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Tightening Grip on Benami Property Issue Govt. Plans to Make Aadhaar Mandatory for Real Estate Investments
August 03, 2017
As a major initiative towards curbing black money and benami transactions through improved transparency, the Narendra Modi government is planning to make Aadhaar number mandatory in all real estate transitions. As per the concept, involved parties would need to furnish Aadhaar details at the time of registration of documents such as power of attorney, agreement of sale, etc.
To extend legal support to the authentication of documents through Aadhaar numbers, the government is also planning to Amend the Registration Act, 1908, itself.
