The Maharashtra State Government is set to approve the establishment of new property registration offices across both urban and rural areas. This strategic move is aimed at addressing the issues of overcrowded and inadequately equipped existing offices and is slated for approval before the code of conduct for the upcoming assembly elections comes into effect.
Currently, Maharashtra operates 519 property registration offices. The new plan includes opening additional offices in high-demand urban areas and in rural regions with significant transaction volumes. Specifically, offices processing over 8,000 transactions per month will be supplemented with additional facilities nearby to manage the increased demand efficiently. Similarly, rural areas with monthly transactions between 5,000 and 6,000 will see new offices added to their locales. This initiative is designed to improve access and service quality for citizens across various regions. The move comes in response to widespread complaints about the current infrastructure, including insufficient seating and inadequate drinking water facilities. While some existing offices have seen renovations, the addition of new offices is expected to alleviate the pressure on these facilities and enhance overall service delivery.
Despite recommendations from the Centre to reduce stamp duty in a bid to invigorate the real estate sector, Maharashtra’s government has opted to maintain the current rates. Developer bodies had advocated for a 2% reduction in stamp duty, but senior officials have confirmed that both the stamp duty rates and the ready reckoner rates will remain unchanged for the time being. This decision reflects the state government’s stance on stabilising revenue from property transactions despite industry calls for adjustment. The expansion of property registration offices is expected to significantly improve the management of high transaction volumes and service quality. By addressing the existing bottlenecks and enhancing infrastructure, the state government aims to provide a more streamlined and efficient experience for property buyers and sellers alike.
