{"id":1616,"date":"2021-04-12T07:30:01","date_gmt":"2021-04-12T07:30:01","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=1616"},"modified":"2021-04-14T12:49:44","modified_gmt":"2021-04-14T12:49:44","slug":"a-slot-reservation-is-now-mandatory-for-the-property-registration-in-maharashtra","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/a-slot-reservation-is-now-mandatory-for-the-property-registration-in-maharashtra\/","title":{"rendered":"A slot reservation is now mandatory for the property registration in Maharashtra"},"content":{"rendered":"\n

The slot-booking procedure will mean that every one of the state’s five hundred nineteen property registration offices only gets to handle under thirty registrations every day. It would bring about a significant drop in the government income during the first month of the new fiscal year.<\/em><\/p>\n\n\n\n\n\n\n\n

All real estate<\/strong> transfers and purchases in India are necessary to get registered under the Registration Act of 1908. The exchange of residential properties<\/a><\/strong> must get registered to receive ownership rights. In Maharashtra, property registration<\/strong> is handled by the Department of Registration and Stamp.<\/p>\n\n\n\n

People of Maharashtra who are intending to register\ntheir real estates<\/strong> in April will have to reserve\ntime slots at the relevant management office via the e-step-in service.<\/p>\n\n\n\n

This is done to promote the “break the chain”\nactivity initiated by the Maharashtra government. Following a major increase in\nreports of the coronavirus infection (Covid-19) in the state, it declared\nconstraints, which includes a partial lockdown. Section 144 is in effect\nthroughout the day. This curfew ensures that more than five individuals cannot\nbe seen together from 8 in the morning till seven at night. During the curfew time,\nonly emergency services will be permitted, according to state minister Nawab\nMalik.<\/p>\n\n\n\n

According to Provision twenty-five of the Maharashtra\nRegistration Act, the homebuyer’s<\/strong> paperwork for\nregistration of a residential property<\/strong> deed needs to\nbe sent to the relevant Registrar official within four months. A fine of up to\n10 times the land registration fee will be waived upon failure.<\/p>\n\n\n\n

The slot-booking system will mean that every one of the\nstate’s five hundred nineteen registration offices only manages twenty-five to\nthirty registrations every day. All property registration<\/strong> centers\nwill only be open on weekdays from 10 in the morning to 6 in the evening. All\nsuch offices would remain shut during the weekends to comply with the new\ncurfew rules. All these suggest a significant drop in the government revenue in\nthe beginning month of the new fiscal year. But this action was necessary to be\ntaken because Maharashtra is the worst-hit state by the virus.<\/p>\n\n\n\n

According to a top property registration<\/strong> officer,\njust a handful of homebuyers<\/strong> may come out during\nsuch prohibitions after scheduling an online slot. It would harm revenue the\ncollection of tax at the beginning of the new financial year.<\/p>\n\n\n\n

The prediction of the registration officer came to be\ntrue. A Kondhwa citizen, for example, chose to do just that. Before any of the\nrules came into place, the homebuyer<\/strong> intended to\nregister her real estate<\/strong> in April. But she decided\nto change her plans and wait for a better time to come. <\/p>\n\n\n\n

According to another senior registration official,\nPurchasers who prepaid their stamp duty before March will have to adopt a\nsimilar process for reserving slots through the e-step-in facility. They need\nto go to the state’s residential property<\/strong> registry\nportal to reserve the time slots and receive a confirmation on the time slot\nassigned to them.<\/p>\n\n\n\n

When heading to the registration office, the notice\nregarding the reserved slot cannot get missed. Inspector-general Shravan\nHardikar said that only the people required to be available for the property\nregistration<\/strong> procedure would have the authority to go inside.\nThese rules are simply to maintain a minimum number of visitors at the\nregistration offices. He urged builders to conduct e-registration of new\nestates from their offices to minimize foot traffic at the sub-registrar\noffice.<\/p>\n\n\n\n

The Covid-19 pandemic hampered purchases in the housing\nindustry and led the real estate<\/strong> industry to almost\ncome to a standstill. Credai officials emphasized that new regulations will\naffect the registrations and the real estate<\/strong> industry\nin the state. <\/p>\n\n\n\n

Shantilal Kataria<\/strong>, nationwide vice-president of CREDAI, said that the government did see several registrations till March. She further added that the stamp duty waiver to female homebuyers<\/strong> provided some impetus to the real estate<\/strong>. She requests the authorities to rethink the proposal to continue the stamp duty waiver in the current scenario. If the state legislature declares that the regulations would not affect the sector, they must take the necessary measures to ensure this.<\/p>\n\n\n\n

Disclaimer: <\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

The slot-booking procedure will mean that every one of the state’s five hundred nineteen property registration offices only gets to handle under thirty registrations every day. It would bring about a significant drop in the government income during the first month of the new fiscal year.<\/p>\n","protected":false},"author":2,"featured_media":1620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[35],"tags":[96],"class_list":["post-1616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-realy-news","entry"],"acf":[],"yoast_head":"\nA slot reservation is now mandatory for the property registration in Maharashtra - PropertyPistol Blog<\/title>\n<meta name=\"description\" content=\"Read article on, Maharashtra Property Registration Online Slot Booking at PropertyPistol Blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertypistol.com\/blog\/a-slot-reservation-is-now-mandatory-for-the-property-registration-in-maharashtra\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A slot reservation is now mandatory for the property registration in Maharashtra - 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