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« Commercial Property Rentals Set to Descend in Major Cities | Home | Property Boom Shifting to Pune »

Areas Prone to Property Frauds in Chennai

Over the past few months, there has been a significant increase in number of real estate fraud cases in Chennai. Devising solutions for the same, the police have listed some areas in Chennai prone to such activities.

Old Mahabalipuram Road, East Coast Road, Velachery, Pallikaranai, Tambaram, Chromepet, Porur, Mogappair and Ambattur are the areas included in the list.

Letika Saran, Comissioner of Police, has got over 300 petitions between January and March from people complaining about land grabbing. Some cases needed the police intervention to retrieve their property, which had changed several hands, without their knowledge.

The police is putting hard efforts to spread awareness among the rightful owners and prospective property buyers in Chennai. They must check the title deed before finalizing any property deal.

Also, the banks have been asked to keep a tight scrutiny over loans against immovable properties, says Additional Commissioner of Police S.R. Jangid.

Every stringent step will be taken in property registration process to prevent scams. Since, it has become mandatory to affix photo of both the sellers and buyers during registration, there has been a noteworthy decrease in irregularities, says another CCB official.

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