Maharashtra's Unresolved Vertical Property Card Dilemma

One year has passed since the proposal for vertical property cards was introduced in Maharashtra, but the state is still grappling with the decision. The concept of vertical property cards aims to simplify the documentation process for multi-storey buildings and enable owners to have a legal record of their property. However, the lack of clarity on its implementation has led to significant delays and raised concerns among stakeholders. The vertical property card system intends to replace the traditional paper documentation with digital records that accurately reflect the ownership details of each apartment within a building. It was proposed as a solution to streamline the property registration process, enable easier transactions, and reduce fraud cases. While the idea garnered support from various industry experts, the implementation has been stalled due to a lack of consensus among policymakers. The primary concern lies in determining the guidelines and regulations for the issuance of these cards. There is ambiguity about the structures that would qualify for vertical property cards, which has led to confusion and uncertainty among property owners and developers. One of the key difficulties faced by the authorities is categorizing buildings that are a mix of residential and commercial spaces. A clear framework needs to be established to determine how such properties would be registered and included under the vertical property cards system. Another challenge is the integration of existing property records into the digital framework. Transitioning from traditional documents to a digital format requires careful planning and meticulous execution to avoid data loss or mismatches. An extensive database needs to be created and verified to ensure accurate records of ownership. The continued delay in the decision-making process has resulted in potential setbacks for developers and property owners. Without a clear directive on the implementation of vertical property cards, obtaining necessary permissions or completing property transactions can become arduous tasks. Industry stakeholders are urging the Maharashtra government to expedite the decision-making process to address these concerns promptly. Clarity and guidelines on the qualification criteria, integration process, and registration requirements would promote transparency and ease of doing business in the real estate sector. In conclusion, Maharashtra's indecision regarding vertical property cards has caused a year-long delay in its implementation. The unresolved issues surrounding eligibility, integration of existing records, and lack of clear guidelines have contributed to confusion and uncertainty among stakeholders. It is crucial for policymakers to address these concerns promptly to provide a streamlined and transparent system for property ownership in the state.