All property deals will be included in Central registry
As of now only loan-linked properties are being put in the registry. To improve the transparency of the deal in real estate, it is proposed to include all transactions of the real estate projects in the central registry.
The National Housing Bank proposed for a pilot project for registering all properties in central registry.
According to the authority, the process will start with those states who already have an e-registry platform.
A Central Electronic Registry of Securitisation Asset Reconstruction (Cersai) was setup to operate and maintain it.
Right now, the central registry has details of properties and lands against which a loan has been taken, with only the loan values recorded.
The authority is working to add the value of the properties in the system and also they want to make it available to the public.
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Source: Business standard
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