Buying a property comes with added burdens leads to many
sleepless nights. Now with the advancement of technology and internet a buyer
doesn’t needs to bother about different necessary factors leading to the
hurdles while buying a property. Major worries related to the sellers
authenticity, taxes, and other monetary sanctions and approvals have been done
property or not even checking all the legalities of the documents.
The state government has designed integrated software of two
departments to get rid of the fraudulent transactions. After such steps the
middle men who dare to make fraud will hit the wall at the senior registrar’s
office.
The software named Kaveri which is (Karnataka Valuation and
e- registration) software of Karnataka Stamps and Registration department has
been integrated with E- Swathu property software of urban local bodies known as
ULB which is linked to the Panchayatraj and the rural development department.
This well-designed software will provide information to the
sub- registrars regarding the properties listed in the ULBs. The outcome of
such an innovation is that they will be able to verify the details of property provided prior to the initiation of the registration process.
The state has witnessed a number of fraudulent and unauthorized
property transactions and the rate has been sky high of such happenings. Back
in the year 2007 the Karnataka high court arbitrated and rendered several to
the point and remarkable directions to the state government to prevent such
misconducts.
It will now become mandatory for the sub registrars to
verify all documents related to property and must attest them and also verify
them before undertaking registration of any property which is immovable.
Initially there was no well-settled mechanism for the officials to understand
if the documents provided, presented and submitted are authentic or not.
As this new system comes into force the sub-registrar could
be able to check and verify the reality of the documents which are submitted
during the process of registration. The sub- registrar can refer the ULB’s
entire database, which carries information regarding all the properties and
sites listed under the prescribed jurisdiction.
This initiative has received a very overwhelming response
from various real estate developers and players in the industry have accepted
it wholeheartedly. This is sure that this integrated software will undoubtedly
avoid any kind of property fraud and influence the sentiments of the buyers
among the able and the potential investors of property and its buyers.
Integrations importance and its helpfulness:
The e-governance software will definitely provide the needed
the information to the sub registrar about the ULB properties which are
enlisted. This integration will definitely help in the cross verification of the property details and will also help in avoiding the fraud transactions in
the realty industry.
Thus, this new integration will prove to be a Boone for the
real estate industry as it will make the industry much streamlined and will
avoid all the malfunctions and happenings of the industry redesigning the image
of the real estate industry by removing the blemishes of fraudulent from the
real estate industry’s name. Lastly, adding name and fame to the overall
industry.
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