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.