Massive Violations Uncovered: 900 Property Documents Flout Real Estate Laws
In a shocking revelation, over 900 property documents in Pune, Mumbai, and Thane districts have been found violating MahaRERA and Fragmentation Act, with major implications for the real estate industry.
Real EstateProperty DocumentsMahareraFragmentation ActReraReal Estate NewsJun 13, 2024
According to a senior revenue official, 200 documents have violated MahaRERA norms, while 700 have defied fragmentation rules. Another 25 documents have flouted other laws, and a staggering 600 are under suspicion for undervaluation, leading to potential revenue losses of Rs 100-200 crore.
The state registration department has set up committees to scrutinize property papers at all 550 offices across the state to rule out violations of 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. The entire exercise now needs to be replicated across all offices, and there are demands for a dedicated cell to conduct such inspections given the humongous number of documents.
Meanwhile, 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. The Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act, 1947, aims to consolidate and prevent fragmentation of agricultural landholdings.
The Inspector General of Registration and Controller of Stamps (IGR) is a state government agency responsible for overseeing property registrations and stamp duties in Maharashtra.
Frequently Asked Questions
What is MahaRERA?
MahaRERA is the Maharashtra Real Estate Regulatory Authority, a regulatory body established under the Real Estate (Regulation and Development) Act (RERA), 2016.
What is the Fragmentation Act?
The Fragmentation Act aims to consolidate and prevent fragmentation of agricultural landholdings in Maharashtra.
How many property documents have violated real estate laws?
Over 900 property documents have been found violating MahaRERA and Fragmentation Act norms.
What are the implications of undervaluation of property documents?
Undervaluation of property documents can lead to revenue losses of Rs 100-200 crore.
How many officials are under the scanner for violating real estate laws?
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
Indian Giants Shine: TCS, Infosys, and Airtel Among Top 100 Most Valuable Brands Globally
TCS, Infosys, and Airtel have been named among the top 100 most valuable brands in the world, according to a recent report by Kantar BrandZ.
Cyber Criminals Target High-Profile Executives: The Rise of Whale Phishing in Real Estate
A city-based real estate company lost Rs 40 lakh to cyber fraudsters posing as the company's director, highlighting the growing threat of whale phishing in the industry.
Pune's Burger King Wins 13-Year Trademark Battle Against Global Giant
Pune's Burger King has emerged victorious in a 13-year trademark dispute against the global fast-food giant, Burger King Corporation.
India's Small and Medium REITs Market Set to Exceed $60 Billion by 2026
The potential Small and Medium Real Estate Investment Trusts (SM REITs) market size in India is expected to exceed $60 billion by 2026, with over 300 million sq. ft. of completed commercial office space.
Pioneering Real Estate Innovation: Assotech Group's Tech-Driven Approach
In the ever-evolving real estate landscape, Assotech Group stands out by leveraging advanced technology and data analytics to drive innovation and enhance operational efficiency. From market forecasting to property management, technology plays a crucial r
US Grants Urgent Visa to Maharashtra Woman's Family After Coma Incident
The United States has granted urgent visas to the family of Neelam Shinde, a woman from Maharashtra who is currently in a coma following a tragic accident. This decision aims to provide her family the opportunity to be by her side during this critical per