Citizens' Issues
How e-registration can bring transparency in real estate market
E-Registration of land or property reduces risk of fraud and helps solve disputes easily, in addition to creating and maintaining an up-to-date public record
 
Land or Property Registration refers to the registration of document changes in ownership and transactions involving immovable property. However, the process of registering land or property documents has several loopholes, which lead to middlemen and babus taking undue advantage and fleecing the common man. With the introduction of online registration or e-registration system, many of these issues in the traditional land registration process are rapidly vanishing.  
 
According to Ashwinder Raj Singh, CEO – Residential Services, JLL India, e-registration has simplified the process for providing evidence of titles and facilitating transactions, and will go a long way in preventing the unlawful disposal of land. "The most frequently-occurring type of disagreement in Indian real estate is land dispute. Cases range from of illicit land grabbing and illegal land sales to instances of purchase of land where no actual purchase has taken place – to name just a few. The real estate market has historically been plagued by such issues, and the current government’s initiative of facilitating e-registration to streamline the registration of immovable properties is an extremely progressive move which has been universally welcomed for its transparency and ease of use," he said.
 
The traditional land registration process, based on the Land Registration Act of 1925, typically involved Powers of Attorney, sale or mortgage of land and transfer of property under rent. The Land Registration Act of 2002 introduced this new system using verified electronic signatures to transfer and register immovable property online.
 
Talking about benefits of e-registration of land or property, Mr Singh said, it has provided the much-needed transparency like availability of tree of ownership, reduced visits to different offices, calculation and payment of stamp duty based on stored data. E-registration also helped in rationalising broker fees and negated the need for bribes to officials, he added.
 
States such as Kerala, Orissa, West Bengal, Karnataka, Tamil Nadu, Rajasthan, Jharkhand, Sikkim, New Delhi, Maharashtra, Madhya Pradesh, Punjab and Chhattisgarh have the facility in force since as long as the 1990s. Such states have developed the Common Services Centre (CSC) Scheme, where all registrations are verified. These CSCs cover almost all the rural and urban areas. 
 
Under the computerised Land and Property Registration system, registration is easy. Some states require an application to be submitted to the concerned authority, which may be the Sub-Registrar or the Sub-Divisional Magistrate (SDM) of your area. The application form can either be downloaded online or obtained from the concerned authority's office. After due verification of details, the Deed is drawn up and the registration process is complete.
 
"It pays to remember that a land owner does not exist in the eyes of the government unless the land has been registered. To avoid the risk of personal land being impounded, it makes sense to register all the land documents online today at the respective State’s online website," Mr Singh added. 
 

How to e-Register Land

The procedure of doing e-Registration of land is simple. The land registration and application form can be either downloaded online or obtained from the concerned authority's office in the state. After the verification of form details and the related documents of the concerned person, the land is registered in a matter of days, and this marks the completion of the registration process and establishing the full-accredit ownership of the property.
 

E-registration Procedure in Urban and Rural Areas

Since property in both urban and rural areas property comes under the jurisdiction of the same State Government and both types of areas are managed under a Tehsil (aka taluka or mandal), the e-registration of property (housing or commercial rental) is fairly similar. The process will only differ if the land is vacant or occupied (built upon). 
 
For vacant land, valuation is done at current market price while for occupied land (with built-up properties like shops, flats, cottages, etc.) it is done on the market price as well as the gross investment utilised by a building. For instance, a single-storied house will be valued higher than a multi-storied house if it is a prime location. Otherwise, the latter commands a higher valuation. In addition, leases of immovable property in urban areas command a higher stamp duty (6%), while in rural areas it is lower (5%).

User

COMMENTS

manoharlalsharma

1 year ago

How e-registration can bring transparency in real estate market/Still TROUBLE because of MODEL-LITIGANTS like Co-operative housing societies due to ENORMOUS INCREASE LAND PRICES one such example is Since we took over possession of our residential flats in 1996 by paying full payment and then enforced to compromise our self dignity and honour at every AGM / SGM as society committee do not register our names in ‘J’ Register so far and call us ‘NON MEMBERS’ twice the Joint Registrars CBD appointed administrators

(1) in the year of 1999 and after turn down the order by then minister (NCP.,) we filled WP-4481/2001 as a resulted final order issued to change byelaw to society dated-25/08/2003 No- RVA 2702/CR-208/15-C, but Society MC filled against the order 8508/2003 to acclaim STAY and

(2) then once again appointed administrator in 2012 and again concerned minister (CONG.,) turndown the order on the ground of APMC but how far this CIRCULATIVE justice to prevent action taking Authorities against malpractices of MC of the said Housing Society ?

REPLY

Shirish Sadanand Shanbhag

In Reply to manoharlalsharma 1 year ago

Refer your complaint to Moneylife Foundation's Legal Resource Centre, to get you the solution to your problem, by sending a Email to moneylife.in/lrc.html

Meenal Mamdani

1 year ago

Yes, the process seems daunting but it is well worth the time spent.

I had bought property in Pune in 1995 and sold it in 2012. The process was so much easier with e-registration. I hired a lawyer to obtain the necessary documents, she guided me every step of the way and as a result the next owner will have an easier time when she/he sells it in the future. The lawyer's fees was money well spent.

Shirish Sadanand Shanbhag

1 year ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

Shirish Sadanand Shanbhag

1 year ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

Shirish Sadanand Shanbhag

1 year ago

Registering the vacant or occupied land with the City Survey Office is not that easy work.
Most of the land owners, without making their land Non-Agricultural, have constructed the buildings on them, since up to early seventies, Town Planners' rule to allow construction on open land was not much strict.

If occupied land owner wants to register its name in Property Card, (it is a valuable document, which gives the ownership of the land and the building on it, to its owner, who may be a Society or a private owner.)has to give following documents to the said office:

(1) A Registered Sale Deed of
the land on which Building
is constructed.

(2) A Registered Sale Deed of
the Building on this land.

(3) A documentary proof for the
division of the land, if
said building is constructed
on a big undivided plot of
land.

Item (1) is to be made with the land owner by the owner of the building.

Item (2) is to be made with the builder, who constructs the building for its owner.

Item (3), if not done, it has to be done with the documents of items (1) and (2), from the City Survey Office.

After you do all the three items, with the copy of these documents, you will apply for Property Card with the City Survey Office, who will give you the document, after about three months.

Whole process, if all are (the land owner and the builder) co-operative, then you can get Property Card within one year, considering the time required to do all the documents and the processing of the property card to form, all taken together.

If building belongs to a private party, and owner of the land and the builder are not co-operating with the owner of the building, then he has to move civil court to redress his grievances.

If the building belongs to a Co-operative Housing Society, and both (Land owner and the builder)are not co-operating, then you have relief through "Deemed Conveyance" method, only in Maharaashtra State.
At other states, you may have to take up the matter with Consumer Forum or civil Court, for this work.

For any difficulties in this respect, kindly contact Legal Resource Centre of Moneylife Foundation on its Email ID:
moneylife.in/lrc.html

Atal Pension Yojana made more attractive
Pension scheme Atal Pension Yojana (APY) has been modified to make it more viable and acceptable for informal sector workers with intermittent incomes, an official statement said on Thursday.
 
The provision of mandatory monthly contributions and penal provisions for non-contribution towards the scheme by subscribers have been removed and the new rules allow individual subscribers to make monthly, quarterly or half yearly contributions instead, a finance ministry statement said.
 
The discontinuation of monetary contribution towards the pension scheme has been greatly modified in favour of the subscriber, while any account will not be deactivated and closed until the account balance with self-contributions minus the government's co-contributions becomes zero due to deduction of account maintenance charges and fees, the statement added.
 
Penalty for delayed payment has been simplified to Re.1 per month for a contribution of Rs.100, and the earlier practice of levying different penalties for different slabs has been done away with.
 
Premature exit from the scheme before 60 years of age was not allowed except in the event of death of terminal illness but now a subscriber can voluntarily exit from the scheme and receive his contribution along with the interest earned on it after deduction of account maintenance charges, the statement said. However, the government's co-contribution along with the interest earned on it will not be paid.
 
Launched by Prime Minister Narendra Modi in Kolkata in May, APY aims to provide a minimum monthly guaranteed pension to subscribers ranging from Rs.1,000, Rs.2,000, Rs.3,000, Rs.4,000 or Rs.5,000.

User

COMMENTS

syed khan

1 year ago

it will be more widely accepted if entry age barrier can be modified to 50 years or even 45 years. thanks.

China devaluation a risk, if long-term: Raghuram Rajan
Repeating his warnings about global markets being at risk of a crash due to competitive loose monetary policies adopted by rich nations, RBI Governor Raghuram Rajan on Thursday said the recent devaluation of the Chinese currency poses a risk only if the depreciation continues for "longer term".
 
"If Chinese depreciation holds at the current level, it's not something we need to be overly concerned about. If it is the beginning of a more longer term depreciation, if it is part of a process of gaining competitive advantage, it has to be worrisome across the world," Rajan said here at the State Bank of India's Banking and Economics Conclave.
 
"You could have tit-for-tat actions," the Reserve Bank of India chief said.
 
"We will have to wait and watch the situation," he added.
 
In a move to deal with current economic weaknesses, the Chinese central bank lowered its daily reference rate by 1.9 percent last week, that rocked currency markets globally, affecting also the rupee.
 
Pointing to the very low interest rate policies of the US Federal Reserve, the Bank of Japan and the Bank of England in a bid to stimulate their economies, Rajan has been warning that emerging markets are especially vulnerable to big shifts in capital flows triggered by unprecedented monetary accommodation in rich countries.
 
"I think more generally across the globe, because of a weak demand, we've seen significant efforts to depreciate currency; you can call it monetary policy or direct exchange rate intervention. That's a worrisome trend," he said.
 
Moves like these, where countries devalue currencies due to low demand, can lead to a "free for all" on the global stage, he added.
 
Predicting the 2008 financial meltdown, which is still affecting global economy, Rajan in 2005 had argued that increasingly complex markets with myriad instruments of credit and mortgage-backed securities in ever greater quantities had made the global financial system a risky place.
 
Rajan also said the consequences of the Chinese devaluation have been felt on some of India's export items.
 
While there was a pick-up in the economy, Rajan said Indian exports continued to remain a worry and the RBI would keep an eye on exports in the coming times.
 
Exports during last month fell by 10.30 percent at $231.37 billion from $257.92 billion during July last year. Exports during June stood at $222.89 billion.
 
The downturn is a fallout of the prolonged worldwide economic slowdown, and a historic plunge in oil prices that has affected the price of petroleum products.

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