New property registration bill

Today we all woke up to the news

https://www.hindustantimes.com/real-estate/govts-new-draft-bill-proposes-online-property-registration-mandates-registration-of-documents-101748441833843.html

This looks really helpful for NRIs as well as people investing across different states.

This is helpful for investors in Maharashtra where property registration happens within 1-2 months of purchase.

If NRI were to invest in Maharashtra, they had to plan the trips accordingly.

There was a way through POA, but not many were comfortable with it.

In some states like karnataka, property registration happens towards the end of possession formalities.

For people investing across different states, they had to plan their travel and bear extra expenses for local stay, commute and food. The long queues at the registration offices pinched more than the leaves they had to apply at workplace.

Nonetheless, the bill looks to provide fullstop to all this hassles.

The suggestions/ comments on the draft Bill may be shared at the following email id – sanand.b[at]gov[dot]in in either MS Word (or compatible format) or machine-readable PDF format.

If you are looking to invest in prelaunch properties across India, contact us at info@homesquaredeals.com

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