Maharashtra’s Real Estate Boom Prompts Government Action, New Sub-Registrar Offices To Come Up Soon

To cope with the growing demand, the state government has set standards for registration: 12,000 deeds per year in municipal jurisdictions and district headquarters, and 8,000 deeds per year in rural areas. This move is expected to increase secondary registrar offices in urban and rural areas.

Santosh Hingane, Joint Registrar, Pune City, confirmed that a committee’s recommendations led to the government fixing registration standards. This development aims to provide relief to homebuyers and reduce workload on existing offices.

Maharashtra’s real estate market growth is driven by factors like pent-up demand, increased disposable income, and stable interest rates. Industry experts predict continued growth, fueled by government initiatives and infrastructure development.

The expansion of registrar offices will likely drive economic growth in the region. With the ‘I Sarita’ system and increased registrar offices, Maharashtra is poised to become a hub for real estate investment.

The state government’s proactive approach is expected to bring efficiency and transparency to the registration process, benefiting homebuyers and the real estate sector as a whole.