The state governments approval to the draft for issuingvertical property cardsto flat owners of MahaRERA-registered projects is expected soon.
The move would ensure supplementaryverticalproperty cards for flats with details of ownership, carpet area, bank loan information and other details. The aim of issuing it is to map the vertical Growth in cities and rural areas. It would also help maintain an independent record of rights and register for individual apartments in projects.
The draft to issue vertical property cards drew lot of suggestions and objections. The committee constituted for vertical property cards submitted them to the state before the draft was framed.
The state issues property cards for land in urban areas and 7/11 extracts in rural areas.