Maharashtra: New Committee to Frame Vertical Property Rules for Flat Owners

The Maharashtra government has taken a significant step towards enhancing property rights for flat owners by appointing a committee of senior officials to prepare 'Vertical Property Rules'. These rules will allow flat owners across the state to make separate entries in the 7/12 extract and property papers, ensuring clearer and more transparent property ownership.

An eight-member committee headed by Vikas Kharge, Additional Chief Secretary (Revenue), will study similar laws in other states and submit its report within a month. This committee includes secretaries of the departments of Cooperation, Urban Development, Law and Justice, Rural Development, as well as officials like the Settlement Commissioner, Director of Land Records, Inspector General of Registration and Stamps, and Joint Secretary of Land Survey in the Revenue Department.

The primary objective of this committee is to prepare a draft of the proposed law, which will facilitate the creation of separate entries in the 7/12 extract and property papers. The process will also consider the land on which the building stands and areas reserved for general use. The proposal submitted by the Settlement Commissioner in this regard will be placed before the committee for thorough consideration.

Currently, property is recorded in government records through the registration of sale deeds, inheritance, or lease. However, difficulties have arisen due to the lack of consensus on recording the names of each individual flat holder in buildings constructed on a particular plot. This has led to complications and legal ambiguities, making it challenging for flat owners to fully assert their rights over their properties.

The committee has been appointed to address these issues and ensure that the names of individual flat holders are recorded in the property register for multi-storey buildings. This move is expected to bring clarity and transparency to property ownership, reducing legal disputes and enhancing the overall property market in Maharashtra.

The implementation of these rules will not only benefit flat owners but also contribute to the broader economic development of the state. Clear and well-documented property rights are essential for attracting investments, improving property values, and fostering a more stable and prosperous real estate market.

The committee's efforts are part of a broader initiative by the Maharashtra government to modernize and streamline property management practices. By ensuring that flat owners have clear and separate entries in property records, the government aims to create a more equitable and efficient property ownership system, benefiting both current and future property owners.