Maharashtra Expands e-Registration for Property Sales to Boost Builder Participation
Maharashtra’s property registration department is intensifying efforts to boost the participation of builders in its e-registration initiative for first-sale flats. Launched two years ago, the initiative has already seen the involvement of 300 developers across the state. The objective is to streamline the property registration process and reduce footfall at government registration offices by allowing buyers to complete registrations from the comfort of developers’ offices. This collaboration between developers and the property registration department is designed to enhance convenience, save time, and promote transparency in the real estate sector.
The e-registration process, which was initially plagued by technical glitches, has now been streamlined. According to a state registration department official, the system is now functioning smoothly and is available for all MahaRERA-registered developers. The department has offered extensive training and technical support to help developers implement the online system. As of now, over 500 developers have received training, and officials anticipate further growth in the number of builders adopting this method.
One of the key advantages of the e-registration process is the reduction in footfall at physical registration offices, helping ease congestion and improve operational efficiency. The system allows property buyers to complete the entire registration process at the developer’s office, in coordination with the registration department. For buyers, this translates into a quicker, hassle-free experience. Meghana Mohit, a homebuyer who recently registered her flat through a developer’s office, praised the process for its simplicity, completing her registration in just 10-15 minutes with all documents prepared in advance. In terms of adoption, the initiative has seen encouraging results. Over the last year, more than 7,600 property documents were registered through developers’ offices. Since the launch of the programme, a total of 10,000 property documents were registered in its first year, though this number fell to 6,000 in 2023. Despite the drop, the department remains optimistic, expecting an additional 300 developers to join the e-registration initiative in the next two months.
Shantilal Kataria, a governing council member of Credai National, noted that many developers are now showing interest in the process after initial issues were resolved. However, he emphasised the need for the state government to push the initiative further to increase awareness and participation. Beyond the logistical benefits, the e-registration initiative also supports Maharashtra’s revenue generation. Property registrations, particularly high-value transactions, continue to deliver significant revenue for the state. In November and December, despite a drop in the total number of property registrations, the state still recorded revenue exceeding Rs 3,000 crore per month. November saw revenue of Rs 3,995 crore, while December’s figure stood at Rs 2,768 crore. As of December 2023, the department had already achieved 69% of its annual revenue target of Rs 55,000 crore, with total registrations reaching 19.02 lakh and revenue collection amounting to Rs 38,084 crore.
The revenue from property registrations remains strong, thanks in part to continued high-value transactions. Despite a drop in registration numbers in November and December, the department is confident that the e-registration initiative, along with other supportive measures, will continue to drive property transactions and contribute to sustained revenue growth. Developers, through their association Credai, have also been lobbying for a reduction in stamp duty and ready reckoner (RR) rates to further stimulate the market and ease property transactions. With the e-registration process proving successful, this push for policy changes could further benefit Maharashtra’s real estate sector and improve the ease of doing business. The state’s push to increase developer participation in the e-registration process for first-sale properties presents several advantages, including reduced congestion at registration offices, faster transactions for buyers, and enhanced revenue for the state. With continued support and awareness, this initiative has the potential to transform the property registration landscape in Maharashtra.
