APPAJI REDDEM, SEPTEMBER 30, 2019
UPDATED: SEPTEMBER 30, 2019 23:01 IS
Govt. will take equity in industries instead of giving sops: Kallam
The State is most likely to witness at least two major changes the way land registrations are made and investments are executed. The government will be coming up with a ‘Land Titling Act’ and will be issuing permanent titles, instead of the existing ‘prescription titles.’
This apart, in an innovative investment model, the State will be taking equity in the industries at the time setting them up instead of giving mere subsidies, according to Principal Advisor to Chief Minister Ajeya Kallam.
In an exclusive interaction with The Hindu at the Secretariat on Monday, Mr. Kallam said, “Land records in the State are in a mess. We are coming up with the Land Titling Act in a couple of months and will be going for an overall survey of land using satellite-linked rovers and base registration offices. The Act will be a game changer. Over 11,000 surveyors will be hired soon for the purpose.”
Under the new system, the govenment will stand guarantee for the proposed permanent land title, which means that the owner will be compensated for the loss in case it fails to stand judicial scrutiny.
The changes will substantially reduce civil disputes, Mr. Kallam said.
The government apparently has taken a serious view of the liberal subsidies and heavily subsidised land given to unyielding industries. Instead of subsidies, the government plans to ease the investment burden of the industries by indulging in equity participation. “The new process will ensure sure shot income and at the same time, benefit the government. We are already working on it and will make a notable announcement soon,” the Principal Advisor said
23 Sep, 2019, 10.29AM IST
Land title insurance is a form of indemnity cover, which insures builders and customers against financial loss from defects in title to real property, among others.
Every plot of land to get unique number with ownership details linked to Aadhaar
This unique identifier (UID) will not only boast details of the state, district or zilla, tehsil/taluka and the relevant block, but also information about the plot, including size and ownership details
BusinessToday.In Last Updated: September 18, 2019 | 13:54 IST
Going forward, the unique identification number for land parcel may be linked to the Aadhaar and revenue court system
With the digitisation of land records under the Digital India Land Records Modernisation Programme (DILRMP) close to completion in most states, the government is now planning to introduce a unique identification number for all landholdings in the country. Think of it as an Aadhaar number for land parcels that will allow the government to track everything from ownership to tax collection.
The rural development ministry has already started work on assigning a standardised unique number for each surveyed plot, a senior government official told The Economic Times. This unique identifier (UID) will not only boast details of the state, district or zilla, tehsil/taluka and the relevant block, but also information about the plot, including size and ownership details.
The idea is to crack down on dubious land ownership and increase transparency - assigning unique numbers to plots of land would facilitate real estate transactions, help resolve property taxation issues and improve disaster planning and response efforts. Moreover, the process of land acquisition for public projects would become easier. Going forward, the unique land parcel number may be linked to the Aadhaar and revenue court system.
"Unique identity numbers have been long overdue and, when implemented, will help streamline and organise India's outdated land record system," Anuj Puri, chairman of Anarock Property Consultants, told the daily. He added that land ownership done via registered sale deed currently is presumptive in nature and is also subject to challenge.
According to think tank Centre for Policy Research, 66 per cent of all civil cases in India are related to land/property disputes, and about a quarter of all cases decided by the Supreme Court involve land disputes, of which 30 per cent concern disputes relating to land acquisition. Disputes over land, rightful ownership and validity of titles also clog up the Indian courts since it takes 20 years, on average, to resolve them. This has a negative effect on sectors, projects and, by extension, economic growth. With UIDs for landholdings in place, such disputes are expected to reduce.
Puri believes that the new system will also help attract more foreign investors for whom lack of proper land titles is a major deterrent for investing in India. Since the UID will reportedly be GIS-tagged, accessing details of any landholding, including past ownership, will become much simpler. The new system may also facilitate easier access to credit, especially for farmers. Land is often used as collateral by farmers and unclear land deals inhibit their capacity to bag a loan.
Meanwhile, a steering committee looking into the development of fintech space in India has pitched for a dedicated National Digital Land Records Mission based on a common National Land Records Standards, within a three-year deadline. The panel headed by Atanu Chakraborty, Secretary, Department of Economic Affairs (DEA), submitted its final report to Finance Minister Nirmala Sitharaman earlier this month.