Once the amendment is through, confirming the identity of buyers and sellers of properties will be possible by simply matching the biometric information. It will help them register properties from their homes<\/p>\n
To bring about transparency and put an end to fraudulent practices prevalent in the real estate sector such as multiple registrations of a single property, some state governments are planning to go in for Aadhaar linked e-registration of property documents from the comfort of the homebuyers\u2019 home.<\/p>\n
Currently, both parties \u2013 buyers and sellers have to be physically present in the registrar\u2019s office along with two witnesses to get the property documents registered.<\/p>\n
The use of Aadhaar card to register properties can serve two purposes. \u201cFirst, it can serve as an identifier. It confirms the identity of the person the transaction is being entered with. Second, Aadhaar can be used for certain transactions where the title of the property does not get transferred such as the leave and license agreement,\u201d says Ajay Bhushan Pandey, CEO, Unique Identification Authority of India (UIDAI).<\/p>\n
To do away with the process of calling in witnesses for proof of identity, the Maharashtra Government has recently proposed an amendment in Rule number 69 of the Registration Act and recommended inserting the word \u201cAadhaar linked\u201d in it. This would enable individuals to register property documents sitting in their comfort of their home, says a senior official at the Department of Registration and Stamps, Government of Maharashtra.<\/p>\n
Once the amendment is through, confirming the identity of buyers and sellers of properties will be possible by simply matching the biometric information. It will help them register properties from their homes.<\/p>\n","protected":false},"excerpt":{"rendered":"
Once the amendment is through, confirming the identity of buyers and sellers of properties will<\/p>\n","protected":false},"author":1,"featured_media":1755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-57","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news"],"yoast_head":"\n