Villagers will soon be able to use their property as a financial asset. here’s how
New Delhi: Prime Minister Narendra Modi is ready to start the physical distribution of property cards under the SVAMITVA program on October 11, via videoconference. The SVAMITVA program is a central sector program and the Panchayati Raj Ministry (MoPR) is the nodal ministry for program implementation.
What is a property card?
A property card is the land registration of property and the history of land ownership in an urban area. Normally, when your land property is located in a municipal area and has a municipal survey number, the details of the ownership transfers / transactions of that property are recorded in the property card. Thus, a property map essentially provides information about the ownership of a property and the history of land holdings located in an urban area. If you are considering buying land in an urban area, it is essential to check the seller’s property card and make sure they own the land.
Details included in the property card: The property card contains almost all the information about a property such as:
- Owner’s name
- Land survey number
- the field’s surface
- Ownership changes
- Details of loans taken out by the owner with government agencies
- Details of pending litigation, if applicable.
- Details of the tax levied on the land. This includes taxes paid and unpaid.
The SVAMITVA program aims to provide an integrated property validation solution for rural India. The demarcation of the rural areas of Abadi would be done using drone surveying technology. This would provide the “record of rights” to village household owners owning houses in the rural inhabited areas of the villages, which would allow them to use their property as a financial asset to take out loans and other financial benefits from the community. Bank.
The scheme targets:
- Bring financial stability to the citizens of rural India by allowing them to use their property as a financial asset to take out loans and other financial benefits.
- Creation of accurate land registers for rural planning.
- Determination of the property tax, which would revert to general practitioners directly in the States where it is vested or else, would be added to the Public Treasury.
- Creation of surveying infrastructures and GIS maps that can be exploited by any service for their use.
- Support the preparation of a better quality Gram Panchayat Development Plan (PGDP) using GIS maps.
- To reduce property disputes and legal matters
The launch will allow homeowners of around a lakh to download their property maps via an SMS link sent to their cell phones. This would be followed by the physical distribution of the property cards by the respective state governments. The move will pave the way for the use of the property as a financial asset by the villagers to take out loans and other financial benefits.
In addition, it is the first time that such a large-scale exercise using the most modern technological means has been carried out for the benefit of millions of rural landowners.
According to the government statement, these beneficiaries come from 763 villages in six states, including 346 from Uttar Pradesh, 221 from Haryana, 100 from Maharashtra, 44 from Madhya Pradesh, 50 from Uttarakhand and 2 from Karnataka. . Beneficiaries in all of these states except Maharashtra will receive the physical copies of the property cards within one day. Since Maharashtra has a property card nominal cost recovery system, so it will take a month.