Additional chief secretary (revenue) Nitin Kareer said the state government would soon decide on the issue of extending registration of property documents executed in December last year.
Credai Maharashtra has sought four-month extension from the state government for such property documents, which were to be registered by April-end. “The state government, after the HC orders, has sought some documents from the state developers’ body. We should take a decision on the issue soon,” he told TOI.
The state developers’ body had written to the Inspector General of Registration and Stamps regarding the extension, which was forwarded to the state government. As per section 24 of the Registration Act of 1908, all documents need to be registered within four months of the date of the agreement signing, failing which a fine, not exceeding 10 times the registration fee, is to be levied each month in different slabs.
The developers’ body has approached the state government to be considerate towards property buyers and not charge a fine in view of the pandemic.
Sources from the revenue department said the government could consider the request by making necessary amendments to the rules as well as levying a nominal charge for late registration.
Senior officials from the department said the state might consider the extension of one or two months with a nominal fee. “Considering the pandemic situation, it is unlikely that there will be registrations. So, people who executed their property documents between January and March may also seek extension,” the officials said, adding that the final order in this regard was awaited.
The state government had given a stamp duty waiver of 3% till December 31 last year to provide the much-needed boost to the realty sector.
Shantilal Kataria, national vice-president, Credai, said with Maharashtra reeling under the second wave of Covid, it had not been possible for many home buyers to meet the four-month deadline.
