MahaRERA Projects May Soon Obtain Property Cards

In a major development with relation to real estate in Maharashtra, MahaRERA Projects May Soon Obtain Property Cards.

According to a senior revenue official, the initiative to provide property cards to flat owners would begin shortly with MahaRERA-registered developments.

The idea was accepted by the Maharashtra state cabinet almost 3 years ago in 2019. All apartment owners were required to obtain these property cards, which included information regarding carpet areas, amenity space, bank loan details, and a 712-section image of the property.

On the other side, the proposal generated a great deal of discussion and resistance, which resulted in the establishment of a commission that would give its conclusions to the state prior to the scheme's start.

Maharashtra Real Estate Regulatory Authority (MahaRERA) officials are also speaking.

The official said that the government will make the ultimate decision.

The state issues property cards in urban regions and 711 extracts in rural areas that detail an individual's or group's ownership rights.

There is, however, no evidence of ownership for a person who owns a unit in a building established on a specific plot.

The state is required to provide a flat ownership card under this regulation.

Maharashtra has around 56 lakh plot cards and 2.5 crore 712 extracts.

According to an authority, there is no proof of vertical buildings such as apartments or commercial structures on these lands.