Maharashtra Maps Flat Owners' Land Share

The Maharashtra government is set to implement a new system of 'vertical property cards' that will legally document each flat owner's individual share of the land on which their building stands. This initiative aims to bring much-needed clarity to property ownership, especially in multi-storey buildings where current land records often only list the society or developer.

The proposed cards will serve as a crucial legal document, supplementing existing property records. They will clearly state the total land area and each flat owner's precise share, thereby preventing disputes over common areas and land. While new constructions will automatically receive these cards, owners of existing properties will need to apply.

This reform is expected to streamline property transactions, simplify home loan processes, and aid in redevelopment projects by providing indisputable proof of ownership. It addresses long-standing issues in traditional land records that fail to capture the nuances of ownership in vertically developed urban areas, potentially reducing complexity and disputes.