We are planning a new utility for banks to help them disburse loans to applicants, a senior revenue department official told dna.
To curb land-related frauds which hurt the bottom lines of banks, these financial institutions will be able to get online access to land records of loan and mortgage applicants. This will enable these financial institutions to verify details of the 7/12 extracts and land records being submitted to them.
"We are planning a new utility for banks to help them disburse loans to applicants," a senior revenue department official told dna.
The project is being implemented by the Settlement Commissioner and Director of Land Records. "This will reduce bank-related frauds where one property is mortgaged to multiple banks simultaneously… It will also curb instances of applicants getting loans based on fake documents," the official noted, adding that the veracity of these documents could be checked online once this project was rolled out.
"If a loan is granted (by the bank), then a signal will automatically be sent (electronically) to the talathi and a charge will developed on the mutation," he explained. Public sector banks will see the utility being rolled out first, followed by district central cooperative and commercial banks. Mutation is the process of changing and updating details, like ownership in land records.
The state government has asked the National Informatics Centre (NIC) to develop the application.
"We are also planning to tie up with land acquisition officers to enable an automatic registration of land acquisition seals on land record extracts," the official said.
The state government plans to cover the entire state in the ambit of the e-mutation scheme by the end of this financial year. So far, around 247 of the state's 358 talukas have been covered under the online mutation scheme. Maharashtra has around 2.11 crore holders of 7/12 extracts.
The project will see the databases of the land records department, sub-registrar offices and tehsil offices being connected for real-time data sharing and computerised 7/12 (rural land records) extracts being given to land owners. This digitisation will ensure reduction in procedures and red tape and will also bring about ease of doing business for industries.
The land records reform process will help the state move towards a conclusive land title and do away with instances of property buyers being cheated, ease property transactions and reduce litigations.
"As the next step, we will computerise the property cards and grant online mutations for it. Now, these records have been computerised and, soon, we will grant online mutations like in case of 7/12 extracts," he added.
Maharashtra has around 55 lakh property cards, which pertain to urban land records.
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