‘Aadhaar linkage with property’ is another forthcoming step by the central government of India aiming to straighten out in real estate transactions. Linking of the unique Aadhaar number with property transaction will make the real estate sector more transparent. Now the big question how the homebuyers will have benefit from this move? Depending on the success of this move, legal ownership of property will have a sharp-cut. Still, the authenticity of the process of Aadhar linkage with the property is not free from doubts.
1. How far is biometric system infallible mechanism?
2. How will the process eschew the black money transaction which has involvement with the Benami Ownership?
3. Is PAN linking not that effective as Aadhar does?
4. Through this mechanism will government able to monitor transaction between two private parties in the secondary market?
5. Won’t this process further amass realty slowdown?
6. How will the government handle the data concerning the privacy portion?
Since, biometric is involved with Aadhaar card linkage, people using fake identity proofs such as dupe PAN Card or Passport will be there easily under government’s radar. Through this mechanism, the government will monitor property transaction and the practice of using Benami entities might face the ultimate inhibition.
While, the homebuyers disagree with the reason given by the government regarding this process, as they find this mechanism is not full-proof. As the biometric focus on the fingerprint identification, if anyhow some unfortunate incident happens which might upset the physical condition of the finger, in that case counting the fingerprint identity won’t be secure enough.
Few experts cite that the real threat to country’s economy is the rampant circulation of black money, whereas owning Benami property comes much later. Black money generation in real estate sector relates to the price disparity of the real estate products where reported price (area circle rate) mismatches with the original market price. Thus, the government should first come up with a substantial mechanism.
As a parallel, while having the legal take on linking Aadhaar with property transaction, it points out that the government should amend its UIDAI Act first to integrate new measures. The UIDAI Act mandates Aadhaar card for providing people government subsidies and benefits. While purchasing home totally depends on the personal capacity, the buyer is paying money to the exchequer by the way of stamp duty, he can’t be said to avail of government subsidies and benefits. Under the Registration Act of 1908, property-related transactions are always in the public domain. Any person can inspect the books of registration, by paying nominal fees- says Section 57 of the Registration Act, 1908. Then how can Aadhar linkage will identify such fake identities in real estate transaction?
Multiple other concerns with Aadhaar linkage :
• Right to property is a constitutional right, under Article 300A of the Constitution of India. With Aadhaar linkage, the government will get information about your property transaction against the existing ownership.
• The government wants to inspect large-value transactions in real estate with Aadhaar linkage.
• Homebuyers are primarily concerned about the safety measure of the personal data.
• Without digitization of land record linkage of Aadhaar can’t fully secure the property market from Benami ownership.
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