by Madan Agarwal
Thorat said, “The revenue ministry has emphasized on e-registration of properties. The digital registration process will enable the sale and purchase of housing projects.
Source: The Indian Express
The Maharashtra government is set to usher in key reforms to boost the real estate sector, leading with online registration of properties from October 1, mobilizing funds worth Rs 25,000 crore to undertake redevelopment of old dilapidated housing structures and restructuring houses in flood-affected districts.
These were announced by Revenue Minister Balasaheb Thorat, Housing Minister Jitendra Awhad, and Urban Development Minister Eknath Shinde at the Real Estate Conclave 2021 of Loksatta – the Marathi daily of Express Group – held in Mumbai on Tuesday.
Thorat said, “The revenue ministry has emphasized on e-registration of properties. The digital registration process will enable the sale and purchase of housing projects. All housing projects listed under MAHA RERA can be registered online. The buyer and seller will no longer have to visit registration offices to complete the process.”
The online registration process will become operational across the state from October 1, he added.
“Considering the hardship faced by the real estate sector due to the lockdown, there was a demand from developers to provide some incentive. Accordingly, the government gave concession in stamp duty registration to help both developers and people buying properties,” said the Congress leader. “The concessions in stamp duty registration increased the number of house sales between September 2020 and March 2021.”
