City Beat: Chandigarh's Conclusive Land Titling System To Bring More Transparency [Video]
Chandigarh recently became the first Indian city to introduce a conclusive land titling system. This system is expected to lower the number of civil disputes, as the government will ensure ownership of properties to citizens.
Once the new system is implemented, the estate office and other property record keeping offices will have the authority to issue online certificates of property titles, stating ownership rights to the extent of share percentage of any property.
The issued certificate will display unique land parcel ID, file number, site address, the name of the owner, the name of his or her father, husband or authorised signatory, associated Aadhaar number, and the owner's share percentage in the property. The certificate will also have the key map of the sector where the property is located, along with zoomed-in view of the property and adjacent plots. There will also be the provision to show mortgage information.
This certificate will be digitally signed and it will carry a QR code, which will give all details of the property when scanned on a smartphone.
How will this new system impact Chandigarh's real estate scene?
This move will bring transparency between developers and land owners. And, it will bring down the number of civil disputes. According to experts, this will benefit developers who buy land through the land-pooling method, as the aggregate time to procure land will come down.
Small builders or individuals planning to build on their row house land parcels will benefit if their property is under dispute. This certificate will act as the authentication. The supply of property in prime areas of the city, which had otherwise exhausted the supply, will increase.
Also, buyers from outside Chandigarh who are looking at the city for their retirement home can now easily buy land parcels.
However, experts also say that these things will happen only if the implementation of the new system is right – because technologies like digital signature and QR code have not yet been tried for such purposes.
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