Digitization of Real Estate Documents Is Necessary

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Introduction (Contd.)

• A digitized system for data handling by the
  Indian Government needs to be implemented to
  simplify the management of trusted information
  and maintaining the security by protecting data
  from the unauthorized access or manipulation with
  no room for error.
• India should digitized real-estate sector in
  terms of construction, asset management,
  marketing and sales and also for the dawn of
  smart homes and a professional working
  environment.

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Introduction

• The housing sector alone contributes 5-6 of
  countrys GDP.
• As per IBEF, the real-estate market of India is
  going to touch USD180 billion by 2020, where,
  technology will accelerate the growth-rate in
  real estate.
• Digitization will help buyers to know who is the
  owner for plots or villa projects in Pune,
  Mumbai, Bangalore, Delhi or in other cities of
  India.

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Reasons for Digitization

• Many states of India have not yet digitized the
  basic survey documents, sketches, maps, etc.
• Previously, these records were maintained by
  different departments at the village level and
  they were working alone with no digitization
  training and lacked streamlined land records,
  resulting in litigation, scams and property
  disputes over land ownership.
• All these issues compelled the government to set
  up a digital department, which will lead to
  transparency and reducing the document
  procurement time.

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Introduction to DILRMP (Contd.)

• Digital India Land Records Modernization
  Programme (DILRMP) was launched to computerize
  all land records, including mutations, improve
  transparency in the land record maintenance
  system, digitize maps and surveys, update all
  settlement records and to minimize the scope of
  land disputes.
• A clear title land ownership will be provided,
  which can be monitored easily by the government
  officials, facilitating quick transactions.
• It will also reduce construction timelines and
  developers overall costs, and benefit the
  consumers, making attractive property prices.

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Introduction to DILRMP

• The computerized land record was started by the
  Karnataka state under Bhoomi Project followed
  by Andhra Pradesh and Tamil Nadu.
• Due to lack of clear and sufficient data and
  mismanagement between various land records
  handling agencies, even the digital land record,
  and the digitized land registration databases are
  not synchronized.

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What will be the Impact? (Contd.)

• The registered sale deeds and property tax
  receipts are not government guaranteed titles to
  the property, but the authorities use them
  primarily for financial purposes.
• For the evidence of ownership, the registered
  property title documents should be provided,
  which will encourage faster transactions and
  completion of projects in the real estate
  industry.

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What will be the Impact?

• For the national growth, the support of
  infrastructure development requires
  litigation-free land for commercial and
  residential use.
• The unclear land titles, the accompanying costs
  for title disputes, litigations and lack of
  transparency, make the real-estate market
  sluggish. So the digitization of all kinds of
  land records is necessary.

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• Digitization of Real Estate documents will boost
  the governments Digital India mission.
• If a buyer is buying a property from a developer,
  they can verify whether the building adheres to
  regulations and have transparent market-based
  pricing.
• SVB Realty, a renowned land developer offers
  residential properties and villa projects in
  Pune. Our officers will guide you throughout the
  land buying process and documentation. We are the
  most preferred land developer for residential NA
  plots and villa projects in Pune.

Read more about - Digitization of Land Records
in Real Estate - A Big Step!
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