Prime Minister Narendra Modi announced a new property card scheme on Sunday, 10 October 2020, which is believed to provide clarity of property rights in villages. Each property card will have a unique identification number as that in the Aadhaar card. The card enables farmers to use their properties as collateral for obtaining loans from banks/financial institutions.
In rural areas, very few people have proper land records, and property disputes in rural areas are a common sight. The property card scheme under the Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme is expected to make a rural transformation.
The government utilises drone technology to map land in rural areas and cover the mapping of around 6,20,000 villages over the next four year. The initiative solves disputes of many people who were facing problems to borrow from banks. Just presenting the property card would do the deal. Thanks to this scheme!
Initially, a batch of 1,00,000 people from 763 villages of six states will receive the digitised property card during October 2020. The beneficiaries of this batch consist of 346 villages from Uttar Pradesh, 221 villages from Haryana, 100 villages from Maharashtra, 50 from Uttarakhand, 44 from Madhya Pradesh, and two from Karnataka.
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Experts from different places across the globe have expressed that property ownership rights can have a great impact on the country’s development. Mr Modi did not forget to mention that the initiative is a huge leap forward towards becoming ‘Aatmanirbhar’.
He also stated that the scheme would play a vital role in defining clear ownership rights of the properties necessary for a developing country, i.e. India. Clear property rights will give self-confidence and lead to self-reliance among the youth, he said.
The Prime Minister’s Office (PMO) has stated that around one lakh property holders will get to download their property cards through a link to their mobile numbers via SMS. Later, the physical distribution of property cards will be carried out by the state governments.
For any clarifications/feedback on the topic, please contact the writer at apoorva.n@cleartax.in
