Property is an important commodity for all. Many a times it can come under dispute due to disagreements in families and other factors. To overcome this confusion, the government has decided on starting e-registration to bring in more transparency in the process. It also aims to streamline the registration process of properties that are immovable. Many countries have adopted it and India is keen on doing the same.
So what exactly is the E-registration process, you may ask. In simple terms, it is a process by which the owner provides evidence of his/her title to carry out the transaction to provide lawful disposal of land. Many of the top real estate experts believe that this new method of online registration will negate unlawful activities. Also, the loopholes in the current Land Registration Act of 1925 will be taken care of. This new system will make use of electronic signatures for registering and transferring properties online.
Another benefit that it provides is that if a person is inheriting received a property from earlier generations, then there will be no need to provide hierarchy of land. All this will be available online; so the potential buyer or tenant can come to know the exact value of the property in question according to prevalent market conditions. But, accomplishing this task is no mean feat as there are innumerable flats in Mumbai. And collecting information like number of rooms, carpet area etc. could be a little tedious. It also requires the government to have complete control over document verification. In the future, e-registrations are expected to bring in a high level of transparency, thus benefiting buyers and investors.
The benefits of this new registration method are aplenty. First of all, the details of the property will be available online and thus can be accessed any time. Secondly, it will bring in transparency. The stamp duty will be calculated online and online payment facility will be provided.
Since the properties in a city come under the Tehsil’s jurisdiction, the process for e-registration will be the same for both the commercial as well as residential properties. The government has ensured that the process is kept as simple as possible. The form is available both online and offline in the concerned state’s authority office. Once the documents stored online are verified, the person will be able to register the property in his own name in a few days.
So what exactly is the E-registration process, you may ask. In simple terms, it is a process by which the owner provides evidence of his/her title to carry out the transaction to provide lawful disposal of land. Many of the top real estate experts believe that this new method of online registration will negate unlawful activities. Also, the loopholes in the current Land Registration Act of 1925 will be taken care of. This new system will make use of electronic signatures for registering and transferring properties online.
Another benefit that it provides is that if a person is inheriting received a property from earlier generations, then there will be no need to provide hierarchy of land. All this will be available online; so the potential buyer or tenant can come to know the exact value of the property in question according to prevalent market conditions. But, accomplishing this task is no mean feat as there are innumerable flats in Mumbai. And collecting information like number of rooms, carpet area etc. could be a little tedious. It also requires the government to have complete control over document verification. In the future, e-registrations are expected to bring in a high level of transparency, thus benefiting buyers and investors.
The benefits of this new registration method are aplenty. First of all, the details of the property will be available online and thus can be accessed any time. Secondly, it will bring in transparency. The stamp duty will be calculated online and online payment facility will be provided.
Since the properties in a city come under the Tehsil’s jurisdiction, the process for e-registration will be the same for both the commercial as well as residential properties. The government has ensured that the process is kept as simple as possible. The form is available both online and offline in the concerned state’s authority office. Once the documents stored online are verified, the person will be able to register the property in his own name in a few days.
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