Maharashtra Vertical Property Cards for Apartments - Revolutionary Ownership Documentation System

Maharashtra government has announced plans to introduce vertical property cards, a groundbreaking initiative that will provide individual apartment owners with independent records of rights similar to traditional land documents. The state cabinet is expected to approve this landmark proposal in the upcoming assembly session, making Maharashtra the first Indian state to officially track vertical ownership in multi-storey buildings.

Understanding the Vertical Property Card System

Officials revealed that these vertical property cards would function as independent Records of Rights created specifically for individual apartments. The system covers comprehensive ownership details, carpet area measurements, and any mortgage encumbrances, operating much like the traditional land 7/12 or property cards used for independent houses.

The Maharashtra government confirmed that this system is being designed under the Maharashtra Land Revenue Code (1966) and aligns with ongoing digitisation drives such as the Svamitva scheme.

Significance of This Revolutionary Move

Enhanced Title Clarity and Dispute Resolution

Property experts emphasized that these cards would serve as a definitive stamp of ownership, helping prevent fraud, dual sale deeds, boundary issues, and inheritance complexities. The system addresses long-standing challenges in Mumbai's real estate market and other major cities across Maharashtra.

Streamlined Financial Processes

Banking industry sources indicated that financial institutions would benefit significantly from having verified carpet area and loan history consolidated in one government-backed document. This development is expected to expedite loan processing and reduce documentation requirements for home loan applications.

Formalizing Urban Development

Industry analysts noted that Maharashtra's initiative positions the state at the forefront of urban land record reform, potentially influencing similar initiatives across other Indian states.

Implementation Timeline and Current Status

Government sources revealed that the proposal was initially approved by the cabinet in 2019, but has undergone multiple drafts, stakeholder consultations, and revisions since then. The most recent version has been re-submitted ahead of the upcoming state assembly session.

Officials indicated that a formal decision is expected soon, with the system likely to debut in MahaRERA-registered projects before extending statewide.

As part of the Svamitva vertical-7/12 initiative, the state has already begun mapping vertical properties in tier-2 towns, including Nagpur, covering approximately 45,000 units. The government has waived measurement costs of ₹8,000 per property to facilitate this process.

Impact on Different Stakeholders

Key Developments to Monitor

• Next state cabinet/assembly session for final approval of the draft amendments under the Revenue Code
• Pilot rollout likely in major cities like Pune, Mumbai, and Nagpur, initially for MahaRERA-registered developments
• Integration with Svamitva scheme and adoption of vertical 7/12 documentation with seamless inclusion under digital property systems

Market Response and Future Outlook

Real estate industry experts have welcomed this initiative, suggesting it could significantly boost investor confidence in Maharashtra's housing sector. The move is expected to complement other recent initiatives like MHADA's housing transformation projects and ongoing urban development initiatives.

Property consultants indicated that this system could serve as a model for other states looking to modernize their urban property documentation systems, particularly given the increasing trend of vertical development in Indian cities.

Maharashtra stands on the verge of implementing vertical property cards, which represent landmark documents that would provide apartments with legal clarity, ensure smoother resale and mortgage processes, and position the state at the forefront of urban land record reform initiatives.

Disclaimer: This news article is based on publicly available information and official statements. Readers are advised to verify the latest updates and consult relevant authorities or legal experts for specific property-related decisions. The information provided is for general awareness and should not be considered as legal or financial advice. Property laws and regulations may be subject to changes, and individual circumstances may vary.