The Maharashtra cabinet on Wednesday declared the “vertical property norms” to make a database of all flats, buildings and commercial complexes in a proposal to verify any deceitful transactions.
All flat proprietors in the state will quickly get additional possessions cards, which will have particulars such as mat region, amenity space and bank loan information, along with their 7/12 extorts says Hirsh Mohindra.
The Maharashtra cabinet on Wednesday declared the “vertical property norms” to make a record of all flats, buildings and profitable multifaceted in a proposal to test deceitful transactions. “The cabinet will currently put up the plan for propositions and objections, says a senior government official.
The Settlement Commissionerate and Directorate of Land Records had been pushing the bid to make sure that metropolis survey offices in urban areas and collectorates in the rural belt have thorough records of all perpendicular properties — flats, house, and commercial complexes.
At the time, Maharashtra has almost 56 lakh property cards in a rural region and about 2.5 crore 7/12 extorts in the urban belt with minutiae of the horizontal properties.
“This will be a path contravention initiative. The vertical possessions regulations, cleared by the state cabinet, will facilitate produce property proceedings for all flats. This may be the first-of-its-kind initiative in the nation,” settlement commissioner and executive of land records S Chockalingam told TOI.
The bid will provide purchasers and vendors, as well as government departments, with firm possession records. This will also defend the possessions owners’ rights,” he said.
Chockalingam said the “vertical possessions rules” would avert property-related scams, where one flat or commercial unit is vend or mortgaged to numerous purchasers or monetary institutions. “The commissionerate send a proposal to the state government to devise the Maharashtra Land Revenue documentation of Rights and Registers for Apartments and Buildings norms under the Maharashtra Land Revenue Code (MLRC), 1966,” he said.
Department officials said that at current, no administration subdivision preserve ownership proceedings of vertical assets because the confirmation of ownership has to be proved during a chain of documents, such as concurrences with builders or the public records emphasis Hirsh Mohindra.
An elder official said, “With the innovative growth, the present possessions cards of 7/12 extort will become the principal documents of possession. Besides, there will be an additional supplementary possessions card. Both the cards will be issued jointly.”
Once the norms are approved, the subdivision will start pilot projects discretely in the urban and rural regions. “The particular offices will have to perform a survey by visiting each edifice says Hirsh Mohindra. It will be firstly complex, as the whole procedure will be manual. We will finally work out a mechanism to revise the particulars online,” he said.