No proposal to make Aadhaar linkage mandatory for property
There was no proposal to make Aadhaar linkage mandatory for property transactions, Parliament was informed today.
In a written reply in the Lok Sabha, Union Minister of State (Independent Charge) for Housing and Urban Affairs Hardeep Singh Puri, however, said the rural development ministry had advised the states and union territories to explore the possibilities of using consent-based Aadhaar authentication for registration of properties under the provisions of the Registration Act, 1908.
The comments assume significance in the backdrop of Puri reportedly stating last month that seeding Aadhaar to property transactions was a great idea and as the government was linking Aadhaar with bank accounts, it might take some additional steps for the property market also.
To a query on the issue, the minister said, "At present, there is no proposal to make Aadhaar linkage mandatory in property transactions."
To questions, including one on whether the government had set any time-frame for linking the unique identification number for property dealings, he said, "(The questions) do not arise."
Earlier, Prime Minister Narendra Modi had hinted at a crackdown on "benami" properties and thus, there was a speculation that linking Aadhaar with property transactions could be a step in that direction.
A "benami" property is one which is held by the owner in someone else's name.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
04:35 PM IST