The Delhi government has been asked by the Centre to include certain provisions of the Land Titling Bill prepared by it in the proposed legislation.
Delhi residents will have to wait a little longer to have a digitised and transparent mechanism for registration of properties as planned by the city government to replace the existing archaic system.
The Delhi government, which had drafted a bill modelled on the lines of the one existing in European countries for property registration, has been asked by the Centre to include certain provisions of the Land Titling Bill prepared by it in the proposed legislation.
"We were asked by the Centre to examine the Land Titling Bill 2010 prepared by the Union rural development ministry before finalising our bill," chief secretary Rakesh Mehta said.
He said the Delhi government will finalise the new draft of the Delhi Urban Property Registration and Titling Bill within a month. The government had prepared the bill after detailed discussions with experts and other stake holders for the last three years.
The city government decided to introduce a new system of property registration to prevent fraudulent transactions under which an online database of all genuine properties will be put in place to ensure transparency.
After clearance from the Centre, the bill will be tabled in the Delhi assembly.
"Now we are reworking on it to adjust key features of the central bill. The process will be completed within one month," Mehta, who is the brain behind the scheme, said.
He said under the new system, the government plans to issue unique identification number and title to genuine owners of the properties.
The Land Titling Bill drafted by the rural development ministry also seeks to make the cumbersome and time-consuming property registration system into a modern and progressive mechanism.
Mehta said considering the potential of real estate development in Delhi, it was strongly felt that an electronic system of dealing with immovable properties should be developed.
He said to ensure efficient administration, it was necessary to have a single repository for maintenance of such records and to avoid multiple authorities maintaining title records.
The chief secretary also said the government plans to set up a dispute resolution mechanism to ensure speedy disposal of cases related to property disputes.
The proposal will ensure creation of a single, secure, electronic and efficient system. It will be made mandatory to get titles for all the properties," he said.
He said the transparent recording system will reduce litigations dramatically, value of property will go up and larger mortgage finance will be available at competitive interest rate.
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