Mumbai developers to start online property registration

Mumbai: Maharashtra Revenue Department has given permission to developers to start online property registration for customers at their own offices. The developers' organisation, CREDAI MCHI had been requesting the state government and policy makers to provide this relief to homebuyers as visiting the registrar's office is difficult in view of the COVID-19 pandemic.

The decision has been taken to reduce traffic at the sub-registrar's office and provide comfort to buyers. This will help homebuyers to register a sale agreement at the developer's office. This is mainly for buyers who had booked the flats before the lockdown and were wary of visiting the registrar's office.

Providing an overview of the process and how the move will ease registration for buyers is discussed by Nayan Shah, President, CREDAI MCHI and Raajesh Prajapati, Founder President of CREDAI-MCHI, Raigad, in an episode of 'The Property Show' with E Jayashree Kurup, Editor-in-Chief, MBTV.

"Everything is laid out in the softwares. As the registration is done under the Indian Registration Act, which says that both the parties are admitting the execution of documents. Except this there is no other role of the sub registrar. With this process in place, we are becoming the agents of the sub-registrar and it is an extension of his office. A few years down the line we will see customers registering projects sitting in the comfort of their homes," adds Shah.

Raajesh Prajapati is one of the first developers to receive the permission from the authority. Commenting on the same, he says, "On 13th Apr 2020, we had a webinar with the Honourable Revenue Minister, Balasaheb Thorat and provided him the list of demands by the developers. One of the demands was to allow online registration of our properties at our office. The Minister immediately gave the nod for the same. After a month or so they started accepting applications and soon after we received our permission to start online registration".

The staff at the developer's office will conduct the registry and the customers will be able to pay the stamp duty as well.

Prajapati also mentioned that IGR Pune has received more than 290 applications from various builders. The developers have to register separately for every project and cannot register on the basis of their firm's name. Necessary infrastructure and facilities will be prepared by the developers to facilitate the registration at their offices. Below are some of the key features to initiate the process of registration, as explained by him.

* Fingerprinting apparatus and CCTV cameras to be installed

* One personnel will solely be deployed for the purpose, who will be trained by the revenue department

* Infrastructure supported by high internet connectivity is very important

* NIC (National Informatics Centre) to provide username and password to the developer to be linked to NIC to conduct the govt approved registration

* Charges will remain the same as were being taken at the registrar’s office earlier. As of now no other charges have been mentioned that need to be paid either by the developer or customer

* Consumers will not require legal help or an advocate to complete the registration process at the developer’s office

Some problems that can be faced by consumers are internet breakdown or server down. These will be taken care of by the developers. As per Shah, almost 50% of the registration will now take place at the developers office. The process will not only push online participation but is expected to be the 'new normal' in the coming years for registration of properties.

The developers' body is also expecting other such demands of theirs to be fulfilled by the state government in future.

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