aadhar card real estate

For ensuring
transparency and liability in the realty sector, the government has initiated
Aadhar- enabled authentication for property registration. The two noteworthy
causes for this option in the Registration Act are:

To
curb black money

Aadhar validation
is an unquestionable requirement. This would build transparency and liability
in property transactions as the corrupt purchasers would avoid putting away
their black money in the realty sector. Any data with respect to the property
buyer could be effectively recovered by the government previously or after the
registration process to improve verification.

To
put an end to ‘Benami’ property

People enlisting
for benami property would begin disinvesting in benami property, which would,
in the end, expand price rationalization. This change in the Registration Act
would make it obligatory for the buyers to connect their unique Aadhar number
with other documents required for property registration. This would empower the
government to quickly identify who the genuine proprietor of the property is.

Adhaar
based authentication for property registration

Aadhar card for
property registration is a key move towards restraining the utilization of
black money in property dealings. Aadhar card turns into a basic evidence of
identity; be it getting an LPG connection, opening a bank account, applying for
a PAN card and property registration in India. The Indian government now
intends to make the UIDAI (Unique Identification Authority of India) – based
validation compulsory for any land dealings.

Most Indians
presently have an Aadhar number that is connected to their bank accounts.
People use it for a mobile connection and also for income tax return filing.
The Government has made a strict move against ‘Benami’ properties against the
‘Benami Transactions Amendment Act, 2016.’ For accelerating this procedure and
make it reliable, the government has asked purchasers and property proprietors to
link their Aadhar number for property registration along with the other
documents. This would be helping the state governments to promptly recognize
the genuine owners of the property and monitor it against the unlawful
exercises. 

Amendment
in Property Registration Act

After the acts such
as demonetization, GST and RERA, the Indian government has become agile.
According to the most recent reports, the government intends to amend Section
32 and 32A of the Registration Act where every individual showing registration
documents to the sub-registrar of the state will undergo Aadhar enlistment
without any fail.

As per different
authorities working for the Aadhar card enrollment process, the prospective
property buyers and sellers ought to have a valid Aadhar number before
enlistment of the property. The Aadhar linked enrollment procedure has been as
of now began on the pilot basis over all states of India. Under this framework,
the local authorities would cross-check the details of the ownership records that
are given through online systems and every other document should be aligned
with the unique Aadhar number. All the sub-registrar servers are presently
connected to the Aadhar servers, which makes it simpler for them to recover
essential data at the time of property registration.

The Aadhar linked
enrollment is done utilizing a biometric procedure then only the property is
transferred to the purchaser against their biometric details and unique ID.

Saya Homes is one such renowned realty
group that follows all the rules and regulations laid by the government bodies for
verification process. At Saya Homes, Aadhar
based authentication
of customers is done for property registration.

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