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Digitization of Real Estate Documents Is Necessary

Implementation of the digitized system for data handling by the government is necessary, which will simplify management of trusted information and maintaining the security by protecting data from the unauthorized access or manipulation with no room for error. Digitization has transformed almost every industry incorporated by advanced governments. India requires digitized real estate sectors in terms of marketing and sales, construction, asset management, the advent of smart homes, and professional working environment. Digitization will help buyers to know who is the owner of the plots or the villa projects in Pune, Mumbai, Bangalore, Delhi or in other cities of India. This presentation provides valuable information on why digitization of real estate documents is necessary. <br>To Learn more, visit here : http://www.svbrealty.in/blog/digitization-of-land-records-in-real-estate-a-big-step/

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Digitization of Real Estate Documents Is Necessary

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  1. 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. www.svbrealty.in Contact Us: +918411963033 2

  2. Introduction • The housing sector alone contributes 5%-6% of country’s 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. www.svbrealty.in Contact Us: +91 8411963033 3

  3. 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. www.svbrealty.in Contact Us: +91 8411963033 4

  4. 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. www.svbrealty.in Contact Us: +91 8411963033 5

  5. 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. www.svbrealty.in Contact Us: +91 8411963033 6

  6. 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. www.svbrealty.in Contact Us: +91 8411963033 7

  7. 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. www.svbrealty.in Contact Us: +91 8411963033 8

  8. Digitization of Real Estate documents will boost the government’s ‘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! www.svbrealty.in Contact Us: +91 8411963033 9

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