Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.
Real EstateProperty RegistrationReraMaharashtraPuneReal Estate PuneJul 31, 2024
The state office of the Inspector General of Registration and Controller of Stamps (IGR) initiated this review to address the rising number of complaints regarding violations of real estate laws. As per the RERA Act, registration is mandatory for every realtor wanting to develop a residential or commercial property exceeding 500 sqm or proposing more than eight apartments in all phases.
With over 25-30 lakh documents registered annually, the task of reviewing these documents is a humongous one. Senior officials from the IGR department have stated that the review will be carried out alongside day-to-day work, ensuring that no stone is left unturned in the pursuit of upholding real estate regulations.
However, the inspections have already caused inconvenience to applicants, with some offices experiencing delays and disruptions. Sachin Shingavi, head of the Association of Real Estate Agents, Pune, has expressed concerns over the impact of these inspections on property agreements being carried out at sub-registrar offices. He emphasized the need for proper intimation to citizens to avoid wastage of time.
The Real Estate (Regulation and Development) Act, 2016, was enacted to promote transparency and accountability in the real estate sector. The Act aims to protect the interests of homebuyers and ensure that developers comply with the regulatory framework.
The Inspector General of Registration and Controller of Stamps (IGR) is a government agency responsible for overseeing and regulating the registration of properties in the state.The Association of Real Estate Agents, Pune, is a trade organization that represents the interests of real estate agents and developers in the region.
Frequently Asked Questions
What is the purpose of the Real Estate (Regulation and Development) Act, 2016?
The Act aims to promote transparency and accountability in the real estate sector, protecting the interests of homebuyers and ensuring compliance with the regulatory framework.
What is the significance of RERA registration for realtors?
RERA registration is mandatory for every realtor wanting to develop a residential or commercial property exceeding 500 sqm or proposing more than eight apartments in all phases.
How many documents are registered with the department annually?
Around 25-30 lakh documents are registered with the department annually.
What is the role of the Inspector General of Registration and Controller of Stamps (IGR)?
The IGR is a government agency responsible for overseeing and regulating the registration of properties in the state.
What is the impact of these inspections on property agreements?
The inspections have already caused inconvenience to applicants, with some offices experiencing delays and disruptions, affecting property agreements being carried out at sub-registrar offices.
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