CREDAI Maharashtra asks for an extension of four months for the registration of properties

Confederation of Real Estate Developers’ Associations of India (CREDAI), an apex body of private real estate developers, is attempting to get a four months extension of property documents which were executed in December 2020.

As the COVID wave in Maharashtra is highly destroying for all the industries and their operations. Considering the situations and increase in COVID cases, CREDAI national vice-president, Shantilal Kataria said that it’s difficult for the home-buyers to meet the four-month deadline.

CREDAI Maharashtra has written a letter to the Inspector General of Registration and Stamps (IGR). State IGR officials have also acknowledged the demand, and as per the latest news, the state IGR officials have forwarded it to the state government.

In their letter, CREDAI Maharashtra has said that “The Inspector General of Registration and Stamps (IGR) of the state is conferred the powers under section 70 of the Registration Act to remit wholly or in part, the difference between any fine levied under section 25 of section 34. We request you extend it for a further period of four months”.

Sunil Furde, State CREDAI president has also thrown some light on the travel restrictions in this COVID outbreak. Because these restrictions are preventing property registrations. Discussion on the said points is important because many documents are required to be executed on or before 31st December.

Real Estate people will get a big relief if the government will show some careful thought on this demand of CREDAI considering the current pandemic times.

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