Maharashtra government is preparing to revise its proposal for issuing vertical property cards to flat owners, a move that aims to modernize and streamline property documentation. This initiative, which has been under discussion since 2023, is poised to be a game-changer for property rights documentation in both urban and rural areas of the state. The revised proposal, expected to be deliberated on soon, will introduce significant reforms aimed at reducing fraudulent activities and ensuring greater transparency in property transactions.
A vertical property card will function as a comprehensive document that records crucial information about a flat, including ownership rights, the carpet area of the apartment, and details about any bank loans secured against the property. This card would serve as an independent record of rights for each individual residential apartment, providing a clear and transparent proof of ownership. The vertical property card will supplement the existing 7/12 extract, which is currently used to define ownership rights for land in rural areas, while urban property records are typically managed through property cards. Once the revised proposal is implemented, these traditional documents will continue to serve as proof of ownership for land, but the vertical property card will provide a more specific record for individual apartments within multi-storey buildings. According to revenue department officials, the revised rules will apply first to projects registered under the Maharashtra Real Estate Regulatory Authority (MahaRERA). This phase-wise approach will ensure a smoother transition and gradually expand the system to cover other projects across the state.
This initiative is expected to simplify property transactions, making them more secure and less prone to disputes. By creating a centralized record of ownership for flats, the Maharashtra government hopes to reduce the complexities involved in buying and selling apartments. Moreover, it would give potential buyers and sellers more confidence, knowing that the details of property ownership are clearly documented and easily accessible. Citizen activist S Joshi welcomed the proposal, noting that the vertical property card would significantly improve transparency, allowing flat owners to easily access important information about their property in a single click. He emphasized that if the government successfully implements this system, it could mark a major step forward in creating a seamless and transparent property ownership system in Maharashtra. This move is in line with the state’s broader efforts to clean up property titles and make real estate transactions safer for everyone involved.
