THANE: The overall slowdown in the market coupled with the demonetisation decision last year apparently failed to make any negative impact on the property market in the Thane district last year with registrations showing a Northward movement in the volume of registration of transactions.The Thane division statistics available with the state revenue department reveals nearly 2,000 more registrations of property transactions last year compared to the previous financial year. The volume of unclassified registrations including those done in municipal councils and rural belts that are noted with the revenue department and listed separately have also seen a rise. A jump in the leave and license transactions by around 5,000 documents was also recorded during this tenure.The statistics have busted the myth of the long term impact of demonetization on the property sector. While the volume of registrations had sunk initially in the period immediately after November, the transactions have resumed its normal course and been on a healthy upward drive since then, inform officials from the registrar office. Officials at the sub-registrar offices across Thane claimed the footfalls were less following De-mon drive and said the impact could be gauged only by end of this fiscal."The industry has seen a turnaround in the sales and the demonetization hasn't made any impact on the business here. Thane district has a lot of potential and has been drawing a lot of attention from investors end and buyers alike thus fuelling the market here," said Ajay Ashar, president of MCHI Thane.Meanwhile, the town planning department of the TMC also was largely benefited by the frenzy of developers to latch on various schemes launched by the state government. "The department earned Rs 117 crore through the sale of additional premium FSI scheme as against the desired target of Rs 100 crore and has shown a steady growth," claimed a senior civic official.With a large migrant population who have shifted base to Mumbai for work also seem to have opted for Thane as a residential destination that experts say is reflected in the spike of lease agreements.Meanwhile, transactions of gift deeds, company mergers, registration of mortgages and several other documents also saw a proportionate increase in the previous fiscal. The volume of gift deeds also rose by around 30% in the same period along with registrations of immovable properties that saw a rise from 36 in the last fiscal to a staggering 431 in the previous fiscal.However, the overall volume of documents registered saw a drop of nearly 5% in 2016-17 as compared to the last year as fewer job and deal contracts, affidavits, transfer deeds, among others were registered here.A large segment of the middle class migrating from other parts of the country find Thane economical to stay on lease rather than purchase accommodation here as they plan to relocate or upgrade to Mumbai after few years. This justifies the rise in lease agreements that holds well or both residential and commercial properties

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