Property transactions, registration made easy
Real estate property transactions
Now, Aadhaar-based e-registration of property transactions will help people file documents at their convenience, do away with the obligation of visiting government offices and being fleeced by agents and lawyers charging hefty fees. The department of registration and stamps plans to include more documents like allotment letters issued by the MHADA Mumbai board and mortgages in the list of papers that can be e-registered. The department has already allowed e-registration of leave and license agreements, first sale of flats by developers and allotment letters by the MHADA Konkan board.
The electronic registration is linked to biometric authentication through Aadhaar numbers and can be done at empanelled service providers. There are presently around 50 service providers in Mumbai which the department plans to increase to 200 by March 2016. By mid-October this year, around 300 leave and license documents were registered in Mumbai through e-registration.
The decision to include more documents in the process is an attempt towards boosting e-registration. The service providers will charge Rs700 for these services wherein Rs 150 will be paid to the department and remaining Rs 300 for home visits. For e-registration, both parties involved in the transaction need to be Aadhaar card holders. People with hardware like biometric fingerprint scanners and other requisite software can simply complete the process from the comfort of their homes.
“We are also planning to include registration of mortgage in the list of documents for e-registration. We have already allowed e-filing of the notice of mortgage,” said Dr Ramaswami N, inspector general of registration and controller of stamps.
The department is gradually making it mandatory to get leave and license agreements registered electronically rather than visiting sub-registrar offices for manual registration. The move has already been initiated in Mumbai with four offices to reduce footfalls in registrar offices.
