MahaRERA projects may soon receive property cards.

A senior revenue official said on March 9 that the scheme to issue property cards to flat owners could begin soon with MahaRERA-registered projects.

The state cabinet approved the scheme to issue independent property cards to flats (vertical properties) in 2019. All flat owners were supposed to receive these property cards containing information about carpet areas, amenity space, bank loan information, and a 7/12 extract of the land.

The draught, however, drew numerous suggestions and objections, prompting the formation of a committee to make recommendations to the state prior to the scheme’s implementation. The goal was to map vertical growth in cities and rural areas, as well as to keep an independent record of rights and register individual apartments and units.

“The vertical property cards committee has submitted its recommendations to the government and suggested that the scheme be implemented in stages.” Negotiations are currently underway with Maharashtra Real Estate Regulatory Authority (MahaRERA) officials. “The final decision will be made by the government,” the official said.

The state issues property cards for urban areas and 7/11 extracts for rural areas that define an individual’s or multiple people’s ownership rights. However, no document exists that proves the ownership of a person who owns a flat in a building built on a specific plot.

“With this in imagination, the revenue department decided to incorporate the Maharashtra Property Tax Code, Transcript of Rights and Registers for Apartments and Buildings Rules into the Maharashtra Property Tax Code, 1966.” This enables the government to issue a real estate card for flat ownership. Maharashtra has approximately 56 lakh plot property cards and 2.5 crore 7/12 extracts. “However, there is no record of vertical properties, including flats or commercial complexes, being built on these plots,” an official clarified.