jump to navigation

Land Registry Proposed for India September 2, 2008

Posted by Bahadir Sahin in Calismalar (Studies), English.
Tags: , , ,
trackback


India’s Department of Land Resources has drawn up a report that promotes changes to the country’s property registration system, with a registry similar to that in the UK proposed. A system of conclusive titles that will guarantee property titles will be introduced soon, according to the Development Minister, Prasad Singh. This will help to combat the problem of fraud over property exchanges that is growing as the country’s real estate market opens up.

Under the proposed system, a single agency will handle all land titles and records so that true ownership is documented and guaranteed. This will be in contrast to the current system, which merely records transactions. Registration of property in India now only amounts to a certification of the transaction, but it does not ensure the title of the property. Currently, in order to verify the title, a prospective buyer or developer has to do an extensive search through various sources, which is costly and time consuming.

In addition to the land registry, the Department is also computerizing all land records using a Geographic Information System (GIS). This process is under way and will combine the two existing programs into the National Land Records Modernization Programme. This system will digitize all land records and help with numerous other services and businesses, including emergency management, real estate, and banks and credit companies

Comments»

No comments yet — be the first.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: