How to Buy, Sell & Register Property in Maharashtra and its Hill Stations

Posted in Panchgani blog on 31-08-2021

Are you interested to buy property in Mumbai, Pune and Maharashtra real estate be it your second home or investment property or vacation home or retirement home?

There are many online property portals offers you property at your door step and if you want to buy property in Panchgani, Lonavala or Mahabaleshwar hill stations, then you have got hill station real estate specialised real estate portal like www.hillsandwills.com now a day which truly redefined the quality of displaying a hill station property and the hill station real estate.

After choosing a property, how to register a property in Maharashtra be it is in Mumbai, Pune or hill stations like Lonavala, Panchgani and Mahabaleshwar?

If that is your question, then this blog could be useful to you to understand about the prevailing property registration procedure in Maharashtra!

The authority that oversees and governs the registration of documents in Maharashtra is the Inspector General of Registration and Controller of Stamps also referred to as IGRS. They have a dedicated website that http://igrmaharashtra.gov.in/frmHOME.aspx that facilitates a variety of functions. Let us look into them one by one.

Accessing the Annual Statement of Rates (ASR)

The ASR can be accessed from the e-ASRtab in the online services section.

Click on the PROCESS option in e-ASR tab
A district map will open
Click on the desired district, a new page open
Select the Taluka and the Village
You will get the property rates across types
This data is historical, the values are available for each year starting 2014

Property valuation

The precursor to calculate the stamp duty is determination of market value of property. To get the value of the property, first enter the above-mentioned website, then click on the https://igreval.maharashtra.gov.in/valuation tab.

A login page will open with an option to enter your mobile number
Upon entering your phone number, you will receive an OTP
After entering this OTP, the valuation main screen will open with 3 options; Valuation of urban area, valuation of rural area and valuation of influence area

For easy understanding let us consider the valuation of a flat

The user has to click on ‘valuation of urban area’
The categories for property evaluation like ‘open land’ and ‘built up’will open
Once the option ‘built up’ is chosen, further subcategories like Residential unit, Office unit, Shop unit, Industrial unit etc will appear
Click on residential unit, a screen will open with options like Flat, Row House, Penthouse, Duplex, Bungalow etc
Choose Flat
You will be directed to a new page where you must input location details
Enter the details and click NEXT
You will be directed to another page wherein you can input details pertaining to Area, Measurement unit, Depreciation, Construction type and features of the property like Availability of lift, Open terrace and Covered parking
Once you enter these details, click on CALCULATE
The calculated cost for the flat will appear

Calculation of stamp duty

Click on the stamp duty calculator under the online services tab
You will be able to see options like Sale Deed, Agreement to sale, Simple Mortgage Deed etc
Let us consider you wish to calculate the stamp duty for a sale deed. Click on sale deed
You will be prompted to enter the administrative division like Municipal Corporation, Municipal Council, Cantonment & Gram Panchayat
Upon choosing the Municipal Corporation, you will get an option to choose from different municipal corporations like Mumbai Municipal Corporation, Nagpur Municipal corporation etc
Choose the applicable corporation, you will be prompted to enter the consideration and market value
Enter the values and click SUBMIT
You will be able to see the stamp duty

Application of stamp duty and registration fee refund

In some cases where the property deal is cancelled, a citizen can apply for stamp duty and registration fee refund on the IGRS website
To apply, click on ‘Stamp Duty Refund’ tab under online services
Choose the option ‘Process’
There are 3 possibilities under this process. Firstly, one can submit a new refund application, if an application is already submitted, one can track status and also make modifications to the application
For new application click on New Entry. You will be prompted to register through your mobile number. Upon entering the OTP and captcha, you will be issued a refund token number
Once you create a password, a new application form will open for the provided token number
On the other hand, you can view or modify the status of an application by inputting the token number and password. Click on MODIFY or VIEW STATUS accordingly

E- registration procedure

The registration of property can be done by clicking on ‘e-Registration tab’ under online services
The service can be used for preparing the agreement (including viewing draft and making modifications), executing it and getting it registered without having to visit the Sub Registrar’s Office (SRO)
Choose the option ‘Process’ on the e-Registration tab
A screen will open with option to make a ‘New Entry’ and also to ‘Modify Entry’ or ‘View Status’
For ‘New Entry’, choose the district of the property and create a password
A new application page will open that will have the option to input property details, party details and rent & other terms
On the other hand, you can view or modify the status of an application by inputting the token number and password. Click on MODIFY or VIEW STATUS accordingly

The above information will be useful to property owners who wish to sell property in Mumbai, Pune and rest of Maharashtra. Prior to that what is the best way to sell a property in Maharashtra quickly?

Similar to buyers, the sellers to got the multiple options of online real estate portals to post their property Ad on famous Paid Plans or on unpopular free plans with very short validity. But to sell property in Lonavala, Panchgani, Mahabaleshwar and other famous hill stations of Maharashtra, Hills & Wills is the most preferred online property portal choice as on today. This is simply because they can post property Ad for free with highest validity, can post multiple properties on free of cost, can display their hill station property more professionally than elsewhere, reach beyond the boundaries, get quality leads and able to quickly sell property online without spending on brokerage and by directly connecting with the interested hill station property buyers.