Govt to introduce property cards with valuation for all plots under proposed Land Titling Act | Mumbai News


Govt to introduce property cards with valuation for all plots under proposed Land Titling Act

Pune: The state govt is drafting a Land Titling Act that will make property cards mandatory for all land parcels across the state, revenue minister Chandrashekhar Bawankule said on Sunday in Pune. In addition to the other details, the card will reflect the property’s value.A property card, also known as malmatta patrak, is an official land record document issued by the city survey department in urban areas. As of now, it is the primary legal proof of ownership for urban properties. All details about the owner, the property’s size, location, and transaction history are contained in the card. A 7/12 extract functions as a document for rural areas.The minister said, “Once the act is implemented, properties belonging to 14 crore residents (the estimated population of Maharashtra) across the state will be brought under the property card system. The value of every property will be officially mentioned on the card. The document will serve as a globally valid proof of land ownership and will function much like the way cash assets are currently recognised,” the minister added.Bawankule said govt will give this legislation its final shape by July. The bill to officially convert it into an act is likely to be placed before the state assembly for approval during the monsoon session. The minister was speaking to reporters after attending Bharti Vidyapeeth’s foundation day event.The initiative is also expected to boost the state’s economy and simplify land transactions. “No property in the state will remain without a property card once the Act is implemented,” he said.Bawankule said several Supreme Court and high court judgments have highlighted that documents such as the 7/12 extract, registration papers or sale certificates are not always treated as conclusive proof of ownership. However, property cards are widely accepted and considered important in courts and official systems across the country. Hence, the system is also likely to bring relief from property disputes and prolonged court battles, he added.Besides the Act, a revised proposal to introduce vertical property cards for flatowners is expected to be reviewed by the cabinet in June.Currently, the state issues property cards for urban land parcels and 7/12 extracts for rural areas. However, there is no standalone document that formally establishes the ownership of an individual flat within a multi-storey building.The state has proposed new rules under the Maharashtra Land Revenue Code, 1966, to bridge this gap. State settlement commissioner Shailesh Nawal said the existing property card or 7/12 extract will remain the primary ownership document for the land parcel, while the vertical property card will act as a supplementary record for the individual unit.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *