Wednesday, April 17, 2024
HomeNewsReal EstateBuilders with over 50 housing units to get doorstep registration

Builders with over 50 housing units to get doorstep registration

Speaking at the concluding ceremony of the Credai-organised ‘Dalan 2024’ exhibition in Kolhapur on Wednesday, Devara said state govt aims to increase annual revenue generation through stamp duty registrations.

Facility to register their properties, MahaRERA will be made available at the offices of the builders/promoters with at least 50 housing units from April 1, said additional secretary of revenue Rajagopal Devara.

Speaking at the concluding ceremony of the Credai-organised ‘Dalan 2024’ exhibition in Kolhapur on Wednesday, Devara said state govt aims to increase annual revenue generation through stamp duty registrations — up from Rs50,000 crore to Rs 75,000 crore — in the next two years. Devara said the decision on the demand to keep the ready reckoner rates (the govt-fixed price of the land property) unchanged will be taken after a review.

“There is a need to increase revenue for development works. Through stamp duty registrations, state earns Rs 50,000 crore. We aim to increase this to Rs 75,000 crore in the next two years. Due to Covid and other reasons, the RR rates have not been increased,” he said.

Every year, the RR rates are declared at the start of the financial year, on April 1. The increase in the RR rates helps increase the stamp duty fee, and the property values in the market also increase.

Devara said a mechanism will be set up for the builders and promoters to get permissions from RERA authority at their doorstep.

The top official said state govt allowed property registration from any office in Pune and Mumbai districts, and buyers in Kolhapur district will get the same facility. They will be able to register their property from any registry offices in the district and not be limited by jurisdiction of the registry office.

“We are also developing 50 offices across the state as model registry offices with all facilities. Two such offices are in Kolhapur district,” said Devara.

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