Online registration of houses will soon be a reality in Mumbai and across Maharashtra, as the State government has made e-registration of property mandatory for first-time home buyers. The move will accelerate the pandemic-hit slow rate of property registration in the State.
Home buyers now need not wait for long in queues and pay a visit at Deputy Registrar’s office for property registration. However, the facility of e-registration will only be available to projects and developers registered under RERA (Real Estate Regulatory Authority). Most of the buyers were hesitating to visit registration offices due to Covid restrictions. The new regulation will help first-time home buyers to stay safe and own their dream house, without risking their lives by stepping out in a time of pandemic.
A robust advanced software system will help RERA registered developers to provide online registration facilities, in coordination with the registration authorities, to first-time home buyers from their premises. According to the office of Inspector General Registration and Controller of Stamps, about 25-30 RERA registered developers in MMR (Mumbai Metropolitan Region) will start offering e-registration services.
For developers to provide e-Registration of houses in Maharashtra, the following are a mandatory:
The facility of e-registration will streamline the house registration process ensuring a transparent eco-system in place. Earlier property registration was a long day process with stricter window timings and buyers would take long to complete various formalities for house registration procedure.
CREDAI-MCHI, a registered body of realty developers in MMR, has extended their gratitude towards the revenue minister for accommodating their demand. The new directive will not only accelerate and ease property registration in Mumbai and across Maharashtra but also bring more revenue to the sector and the government as well.