Massive Violation of Real Estate Laws: 900 Property Documents Found Non-Compliant in Pune, Mumbai, and Thane
Over 900 property documents in Pune, Mumbai, and Thane districts have been found violating MahaRERA and Fragmentation Act norms, highlighting widespread malpractices in property registrations.
Real EstateProperty DocumentsMahareraFragmentation ActReraReal Estate MaharashtraJun 13, 2024
The violations are alarming, with 200 documents flouting MahaRERA norms, 700 defying fragmentation rules, and another 25 violating other acts. Moreover, around 600 documents are under the scanner for undervaluation, which could result in a revenue loss of Rs 100-200 crore.
The Maharashtra government has taken note of these violations and has set up committees to scrutinize property papers at all 550 offices across the state. The aim is to ensure compliance with the Real Estate (Regulation and Development) Act (RERA), 2016, and the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act, 1947.
RERA registration is mandatory for every realtor building residential or commercial projects above 500 sqm or having more than eight flats across phases. The Fragmentation Act prohibits registration of fragmented or small land parcels, with the Maharashtra IGR allowing only properties of size 11 gunthas (11,000 sq ft) or more.
The state department registers 25-30 lakh documents annually, and all documents registered in the last three years will undergo vetting. A detailed report will be submitted to the government, and a dedicated cell is being demanded to conduct such inspections given the humongous number of documents.
In a related development, 82 officials from the state registration department are already under the scanner for illegally registering documents in violation of RERA and fragmentation norms, with 44 of them from Pune district.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act (RERA), 2016. Its primary objective is to regulate the real estate sector and ensure transparency and accountability in property transactions.
The Fragmentation Act, on the other hand, aims to prevent the fragmentation of land holdings and promote consolidation of land parcels.
The Inspector General of Registration and Controller of Stamps (IGR) is a government agency responsible for regulating property registrations in the state of Maharashtra.
Frequently Asked Questions
What is MahaRERA?
MahaRERA is a regulatory body established under the Real Estate (Regulation and Development) Act (RERA), 2016, to regulate the real estate sector and ensure transparency and accountability in property transactions.
What is the Fragmentation Act?
The Fragmentation Act aims to prevent the fragmentation of land holdings and promote consolidation of land parcels.
How many property documents were found violating MahaRERA and Fragmentation Act norms?
Over 900 property documents in Pune, Mumbai, and Thane districts were found violating MahaRERA and Fragmentation Act norms.
What is the potential revenue loss due to undervaluation of property documents?
The potential revenue loss due to undervaluation of property documents is estimated to be around Rs 100-200 crore.
How many officials are under the scanner for illegally registering documents?
82 officials from the state registration department are under the scanner for illegally registering documents in violation of RERA and fragmentation norms.
Related News Articles
Arkade Developers Secures Rs 1,700 Crore Cluster Redevelopment Project in Dahisar
Arkade Developers has bagged a significant cluster redevelopment project in Dahisar, Mumbai, with a gross development value of Rs 1,700 crore. The project spans 6.5 acres and is expected to offer 6.76 lakh square feet of saleable area.
Kolte-Patil Developers announces leadership change: Rahul Talele steps down, Atul Bohra takes over as CEO
Listed real estate firm Kolte-Patil Developers based in Pune announced that its Group CEO Rahul Talele has resigned, effective June 13, 2024. Atul Bohra, former CFO, will replace him.
No Alcohol at Diljit Dosanjh's Pune Concert: Maharashtra Excise Department Cancels Permit
Diljit Dosanjh's highly anticipated concert in Pune, scheduled to take place at Kakade Farm in Kothrud, faced a significant setback as the Maharashtra Excise Department revoked the alcohol permit. The decision has sparked debate and criticism from various
Single-Owned Commercial Properties in High Demand
Investors in India's commercial real estate market prefer single-owned properties for higher returns and operational efficiency
Alt, the Holding Company for Property Share, to Raise Rs 2.8K Cr in New Funding
Mumbai: Alt, the holding company for Property Share, a leading platform in fractional real estate ownership, is set to raise Rs 2.8K crore. This move is expected to further boost the company's market presence and expand its innovative real estate solution
Why Bengaluru's Mysore Road Is Grabbing Everyone's Attention
Mysore Road in Bengaluru is undergoing a significant transformation that is turning heads. From real estate developments to infrastructure improvements, discover why this area is becoming a focal point for both investors and residents.