E-REGISTRATION OF PROPERTIES FINALLY ARRIVES IN MUMBAI





You can now go ahead and skip the long queues of the sub-registrar's office by simply registering your property online

People in Mumbai can now expect hassle-free registration of properties, with the launching of an online system to ensure transparency and offer people a seamless experience. E-registration of property was launched by the Maharashtra government on August 31, 2014, to facilitate easier and quicker registration. Earlier, it was possible to download only the necessary documents for registration.With this initiative, buyers and developers can now register a property online. It will not only save money and time of the buyers but will also help provide an efficient and transparent service. The entire process is online and works through a software. The document is filled online, which is then checked by the sub-registrar.Mayur Shah, managing director, Marathon Group, said "The eregistration is one of the landmark developments in the real estate sector.Until now, it was compulsory for the homebuyers to go to the office of the sub-registrar for the same.Homebuyers as well as the developers had to depend on the office hours of the sub-registrar."

Now, the homebuyer need not stand in queues or run to different offices for the paperwork. It's especially difficult for people looking for a property in areas away from their office or current residence. Now, the whole process can happen in the comfort of their homes. The procedure is simple as the homebuyer and developer have to provide the details of their identity through the Aadhaar card. The procedure for the online registration would be the same as that which is currently happening at the office of sub-registrar. The verification and authentication process will help developers know a true buyer. Eregistration will do away with fallacies of the buyers defaulting on the full amount payment of property or loans and selling it without prior information, to the developer. Thus, in many ways, e-registration will keep away malpractices, make the process of buying a house easier for the consumers and also facilitate increased buyer-developer trust.

Kaizad Hateria, corporate customer relations and asset class specialist, Rustomjee, explains that "The buyers will not have to worry about the properties not having NOCs and many such permissions, as the online registration mandates the developers to list them. UID numbers and thumb impressions of both, the buyer and developer, are mandatory for this process and are verified by the website instantly . These can be the parameters for the buyer to judge the developer and vice-versa."

The document would be sent to the sub-registrar's office, who would check and verify the document, measure the legality of the agreement and the authenticity of the buyer and the developer. It is only then that he will authorise the agreement and register it. Mohan Nagare, a software engineer and homebuyer said, "The fluidity achieved by the system is commendable. It is less hectic, less energy-consuming and saves time.Also, it is easy to understand and is user-friendly . Now, online registration can be done within an hour, from the online property registration office of the developer."

Endorsing the view that the buyers will benefit the most, Gaurav K Shah, director-marketing, Ravi Group, says, "It will definitely bring in a positive change and is a hassle-free approach to registration of properties online.Buyers willing to buy property , do not have to wait in a queue to visit registration offices to get hard copies of the transactions. Technology has solutions for every doubt raised.Whether the property is stuck in a legal tussle, or the land is reserved for SCSTs, nobody can lie to the government at the time of registration. This process will put an end to illegal registration of properties."

Developers can have a customised registration facility for a project with more than 200 houses. The registration can be done from the developer's office and the whole process doesn't have to be repeated multiple times for all the buyers buying in the project. This makes the developer's job much easier vis-a-vis having to arrange for every individual buyer's registration. Shah explains that "The system works fluidly across the buyer-developer-subregistrar triad. The details of the property , the buyer, and the developer, need to be entered, along with the UID number and the respective thumb impression associated with the UID.It gets verified in the system. After this, one can digitally sign them and authorise the document to be processed further for registration."

The register-from-office facility is only available to developers who have all the required clearances for their projects and the necessary hardware and software. This saves the industry from a lot of fraudulent or irresponsible developers. This online channel for the electronic registration of transactions has a new range of services like interact with the land register including the digital map, circulate documents in a secure environment, pay fees by variable direct debit. The e-registration website also has a registration fee calculator, wherein, one can just input all the required numbers and it gives you the amount you need to pay . Apart from this, they have also included an automatic calculation of the registration fees while filling the form.

QUICK BYTE

THE HOMEBUYER NEED NOT STAND IN QUEUES OR RUN TO DIFFERENT OFFICES FOR THE PAPERWORK. IT'S ESPECIALLY DIFFICULT FOR PEOPLE LOOKING FOR A PROPERTY IN AREAS AWAY FROM THEIR OFFICE OR CURRENT RESIDENCE. NOW, THE WHOLE PROCESS CAN HAPPEN IN THE COMFORT OF THEIR HOMES. THE PROCEDURE IS SIMPLE AS THE HOMEBUYER AND DEVELOPER HAVE TO PROVIDE THE DETAILS OF THEIR IDENTITY THROUGH THE AADHAAR CARD.

THE PROCEDURE FOR THE ONLINE REGISTRATION WOULD BE THE SAME AS THAT WHICH IS CURRENTLY HAPPENING AT THE OFFICE OF THE SUB-REGISTRAR.

PROCESS

Go to igrmaharashtra.gov.in, click on e-registration, fill out required details and get your token number, click next.

Enter your property details, click next.

Enter party details as licensee or licensor.

Enter identifierwitness de tails.

Enter rentother terms.

Execute You will need to up load the thumb impressions and photos of every party along with the UID numbers; the document can be signed electronically with the help of software available for down load on the website.

UID verification UID numbers and thumb impressions will be verified.

Submit Submitted documents will be verified by the sub-reg istrar office and registered.

[FAST FACT]

THE DETAILS OF THE PROPERTY, THE BUYER, AND THE DEVELOPER, NEED TO BE ENTERED, ALONG WITH THE UID NUMBER AND THE RESPECTIVE THUMB IMPRESSION ASSOCIATED WITH THE UID.