Government Plans to Make Aadhaar Mandatory While Dealing with Property

This is a major step taken by Government of India to check benami in India. Now every property deals should be made using Aadhaar.

Government Plans to Make Aadhaar Mandatory While Dealing with Property

To track Benami transactions and usage of black money in real estate deals, Government has planned something big that is to make Aadhaar Authentication Mandatory at the time of registration of documents like power of attorney, agreement for sale, and will. Government will also enable digital registration of properties, with which Aadhaar Authentication will be used.

Government will also make minor changes in Section 32 and 32A of Registration Act 1908, Person presenting document at the property of registration office for registration, shall, whether executing or claiming under the same, undergo Aadhaar Authentication.

The department of land resources under the Ministry of Rural Development has already notified to State Government and Union Territories guiding them to notify rules administered “consent-based Aadhaar authentication” at the time of registration of documents.

People found guilty of benami transactions will face severe imprisonment for at least one year which can be extended upto 7 years. The person shall be liable to pay fine which may extend to 25% of market value of property.