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May 31, 2021
Maharashtra Government Soon to Consider Proposal Realty Registration Extension

Mr. Nitin Kareer additional chief secretary of revenue on Wednesday mentioned that the government of state would soon decide on the grant of extension of realty registration executed in December last year.

CREDAI Maharashtra has sought 4-month extension tenure from the state government for the submission of the required documents for such properties which were meant to be registered by past April-end. As per the orders and guidelines issued by HC, the state government has sought some papers from the state realty developers’ body and assured for timely fixing it as well taking up the issue in the agenda.

The developments have been a result of the rigorous efforts by the CREDAI. As recently, a month back only the state developers’ body had addressed the IG of Registration and Stamps department seeking an extension. Also, which was further forwarded to the state government.  

As per the laws enacted in the property Law of India, it is section 24 of the Registration Act of 1908, that suggests that all the documents mandatorily be registered within the four months from the date of the signing agreement and failing in which will attract a fine, not exceeding 10 times the registration fee. 

Given the fact that enacted laws are there to be implemented, the developers’ body has approached the state government to be considerate towards property buyers and not levy any fine given the COVID situation.

Inside sources from the revenue and stamps department said that the government might consider the request seeking an extension by amending necessary rules as well as might make an exception in some cases by relaxing on imposition of full fine or levying a nominal fine instead on late registrations.

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Government to Analyze Developers’ Demands to Promote Realty Sector: Housing Secretary

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