I have been trying to understand the plan of digitization of land records and its positive effect on property transactions and mortgage loans. It looks like many states have digitized major part of the land ownership records and people can take a printout of the ownership records from the state government websites, although the printouts do not have legal validity yet. The plan is to bring the digitization to a level where the printouts can work as a legal proof of ownership. This would bring down the inconvenience and cost of property transactions and should lead to better business for mortgage lenders like Can Fin and others.
My knowledge of the status of land ownership digitization programme and its possible impact on mortgage loans is rudimentary? Please share if you can add something to it.
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