In a recent announcement
by the government, homebuyers will soon be able to pay fees for registration of
a property document online. The state cabinet is expected to discuss a proposal
for amendment in the Maharashtra
Stamp Act, 1958, to permit e-payment
of Registration fee. The move is aimed at simplifying property
registration, making it more efficient and transparent. This would also reduce
the documentation involved in the registration process, which is often a source
of inconvenience for citizens.
The move comes after e-payment
of stamp duty, which was permitted previously, was well received. The facility will be optional. A move to
permit online registration of properties
is also under consideration. The rates of interest are bound to zoom and this
will further weaken the sluggish demand
in the real estate sector.
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