Mumbai…January 28, 2024… The 31st edition of CREDAI-MCHI, India’s largest Property Expo 2024 witnessed a convergence of groundbreaking initiatives aimed at revolutionising the real estate landscape. Hosted at the esteemed Jio World Convention Centre in BKC, Mumbai, the expo showcased a myriad of new initiatives and innovative concepts designed to enhance accessibility and streamline processes in the industry.
CREDAI-MCHI in a joint endeavour with the Department of Registration and Stamp is promoting e-registration of documents during the Property Expo 2024 and over 155 e- registrations have been done. The presence of Department of Registration and Stamp at the expo is a big step towards encouraging all developers in MMR to adopt e-registration services and utilise this facility making this process 100 per cent digital.
Mr. Hiralal Sonawane, IAS, Inspector General of Registration and Stamps, Government of Maharashtra said, “Government’s initiative of Digitalisation has seen major push with the launch of the facility of e-registration of documents by the Department of Registration & Stamps. This service can be availed from any location and at any time without visiting the sub Registrar’s office. This service is available to the developers and construction professionals to register an Agreement to sale or first sale of documents only from their offices itself (MAHARERA registered). We encourage all developers to adopt this service at the earliest. The department is committed to supporting developers through comprehensive training sessions and dedicated support teams. We are focused towards fostering transparency and efficiency in property transactions. The e-registration service is a huge milestone in our efforts to modernize processes and enhance accessibility for all stakeholders involved. We extend our gratitude to CREDAI-MCHI and especially thank Mr. Boman Irani, Mr. Domnic Romell, Mr. Dhaval Ajmera and Mr. Keval Velambhia for their unprecedented support to take this initiative forward to the developers and home buyers.”
Mr. Domnic Romell, President of CREDAI-MCHI, expressed pride in the partnership with the Department of Registration and Stamp, emphasising its pivotal role in streamlining processes for developers. He remarked, “The overwhelming response to the expo and especially e- registration of the properties at the expo itself underscores the industry’s enthusiasm for digital transformation. Together, we are shaping a more transparent and accessible real estate landscape for all the stakeholders.”
Overall more than 30,000 documents have been successfully registered so far and 200 plus projects have embraced e-registration, underscoring the industry’s rapid adoption of this innovative approach marking a significant leap towards digitization and transparency in property transactions.
e-Registration is legally compliant electronic mode of registration of documents under the Registration Act 1908. To facilitate more builders, department has taken the training sessions at CREDAI-MCHI office.
To resolve builders’ queries, department has setup separate team at state level and at district level. The system support Engineers are available to resolve any issues.
CREDAI-MCHI is an apex body comprising members from the Real Estate Industry in the Mumbai Metropolitan Region (MMR). With an impressive membership of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibag, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognized body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry’s organization and progress.
As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI- MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organized, and progressive real estate sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting the Government on policy advocacy, and assisting those they serve through the ever-evolving real estate fraternity.
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