Do You Own the Land Beneath Your Flat? Most Homebuyers Are Unaware
Do You Own the Land Beneath Your Flat? Most Homebuyers Are Unaware
Maharashtra government introduces ‘Vertical Property Card’ to clarify land ownership in housing societies.
News: Buying a flat in a housing society is a major investment for most people, often involving long-term EMIs, taxes, and maintenance charges. However, many homeowners are unaware of an important question — who actually owns the land beneath their apartment building?
In many housing societies, the land on which the building stands remains registered in the name of the builder or another individual. This issue usually becomes a major concern during building redevelopment, when the first question raised is about the ownership of the land.
To address this problem, the Government of Maharashtra has introduced an important measure called the Vertical Property Card.
What is a Vertical Property Card?
The Vertical Property Card is an extension of the traditional 7/12 land record extract, which is the primary land document used in the state. It provides detailed information about the building and its individual units.
This document includes details such as the total area of the building, the carpet area of each flat, and the exact share of land allocated to each apartment owner. It also records information related to loans secured on the property and the distribution of common areas.
Why is it important?
If the land is not officially registered in the name of the housing society or flat owners, redevelopment projects can face serious legal and procedural hurdles. With a Vertical Property Card in place, flat owners gain clearer ownership rights and do not have to depend entirely on the builder during redevelopment.
Experts say this system will bring greater transparency and security for homeowners in housing societies across the state.
