Govt to make Aadhaar mandatory for real estate deals

Govt to make Aadhaar mandatory for real estate deals
03/08/2017 , by , in News/Views

In a crackdown on benami properties and curb the use of black money, the central government is planning to make Aadhaar-based authentication mandatory in real estate deals at the time of registration of documents such as agreement for sale, power of attorney and other documents. According to media report, the government may also enable electronic registration of properties, for which Aadhaar-based authentication will be mandatory. In order to implement this, the central government is planning to amend Sections 32 and 32A of the Registration Act, 1908.

The government expects to minimize the scope of fraudulent and benami transactions and ensure foolproof property titles for the buyers. The department of land resources which is under the Ministry of Rural Development has advised the states and Union Territories, to notify rules mandating “consent-based Aadhaar authentication” at the time of registration of documents.

The government is also expected to amend the Registration Act, 1908, which can provide legal backing to Aadhaar-enabled authentication of documents. It is also learnt that first a draft of the amendments will be sent to the Union Cabinet for approval, and thereafter to Parliament.

About admin

Loading...