Aadhar card for property registration is a strategic move towards curbing the use of black money for transactions in property dealings. Aadhar card becomes an essential proof of identity from getting an LPG connection to opening an account in the bank to getting a PAN card to property registration in India. The Indian government plans to make the UIDAI (Unique Identification Authority of India)-based authentication mandatory for real estate deals.
Most Indians now have an Aadhar number that’s linked to their bank accounts, mobile connection services and income tax return filing. The government has taken strict action against ‘benami (prohibited)’ properties against the ‘Benami Transactions Amendment Act, 2016.’ To speed up this process and make it infallible, the government has asked buyers and property owners to link their Aadhar number for property registration with the documents. This will help the state governments to immediately identify the real owners of the property/land and guard it against the illegal activities.
Amendment in Property Registration Act
After demonetization, GST and RERA, the Indian government is playing smart. As per the latest report published in Indian Express, the government plans to amend Section 32 and 32A of the Registration Act where each person presenting registration documents to the sub-registrar of the state will undergo Aadhar registration without fail.
Finance Minister Arun Jaitley said, “We need to set an example to create a deterrent against use of anonymous people to hide ill-gotten wealth, amid some politicians and their family members coming under the scanner for alleged ‘benami’ deals.” He further added, “This is the right time to confiscate properties of those who use other people to convert unaccounted wealth into white.”
According to other authorities working under the Aadhar card for registration process, the prospective buyers and sellers should have a valid Aadhar number before registration of the property. The Aadhar linked registration procedure has been already started on the pilot basis across all states of India. Under this system, the local authority would cross-verify the status of the proprietorship documents that are provided through online systems and all other documents need to be lined with the unique Aadhar number. In fact, all the sub-registrar offices are now linked to the Aadhar servers, which makes it easy for them to retrieve necessary information at the time of property registration.
The Aadhar linked registration is done using a biometric technique and the property is then transferred to the buyer by keying their unique ID and biometric details.
What if you don’t have Aadhar card or lost it
You can do the following in case you have lost your Aadhar card or still yet to get your Aadhar number:
- You don’t need to get a new Aadhar card or Aadhar number in case you lose the earlier one. You can simply visit the nearest Aadhar center in your city and apply by providing your biometric details along with other address and name identity proofs. Consequently, you can get your existing Aadhar card and the (same) unique Aadhar number immediately. Dial 1947 to get the details of the nearest Aadhar center.
- If you still don’t have a permanent Aadhar number but want to make the property registration, the authorities can proceed with your temporary Aadhar number, i.e., Aadhar Enrollment ID (EID) and register the property sale deed. In case you neither have an Aadhar number nor the EID, you can make a request for the Aadhar card online and show the acknowledgement receipt to the sub-registrar. The authorities will register your document by entering the acknowledgement number, and as you receive the permanent Aadhar number, you need to go to the office and get yourself eKYC-verified.
SOLID GROUNDS REPORT BY INDIAPROPERTY.COM
Solid grounds reports are generated by analyzing millions of property transactions , market insights and research done by our field executives in various localities all over the city.
It’s unlike other property reports where insights are generally based on advertised price. Solid grounds is fully built on Million+ actual property transaction / registrations details over period of 10 years to provide you realistic insights and recommendations.
WHAT DO YOU GET FROM THIS REPORT?
- Understand the real estate market potential and prevailing market price of any locality
- Overall demand trend for locality / Street / Project over a period of time
- Top appreciating, popular and value for money streets within a locality
- Transaction Price trend of projects since its launch
- Registration / Transaction details of units sold so far in a project
- Opportunity to save atleast 5% on your property purchase by knowing the right price to invest