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Delhi Government introduces a new coding system to control property related deceptions

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According to the sources available with the www.propertykhazana.com, requirements for better lucidity in Indian realty appear to have supported the Delhi Govt. to take strict strides. It has been arising with an efficient coding system which will be known as ‘Land Title Registration System’ to follow the land auctions. System will surely be a great assist in avoiding swindles by allowing online land authentications, reduce lawsuit linking to land rights and sets up authority of possession. The Govt. will allot a special code to everyone who is having lands in the National capital which further assist to bring out the growth of illegal colonies under the lens. Encouraged by the United States Agency for Global Development, an arrangement by the Urban Institute earlier the State Government left no space for distrust about the effectiveness of the coding system.
Coding system will get the scheme sanction as “In Principle”. The proposals of the arrangement comprise restoring registration of transactions with registration of titles means proof of the ownership. Registration will also be assurance of property rights and assists to set the authority of the title; this will permit banks to lend with bigger confidence and family to borrow without any legal related problems. Government will quickly set up the database of every available land’s in the city and the venture is expected to use an investment of more than 200 Crores and it might take decades to finish. For more details logon to www.propertykhazana.com.
Source: NIMMA BENGALURU

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