A draft Land Titling Bill, 2010, that will have a positive impact on infrastructure projects and industry has been published by the Department of Land Resources in the federal government. This bill aims to create a system of “conclusive property titles” with title guarantees that will also cover against loss if titles are entered incorrectly by the government.
The draft bill proposes the creation of a Land Titling Authority that will oversee the delivery of the conclusive titles. This authority will not only maintain the various registers necessary, but also exercise the powers vested in the civil court and revenue authorities which deal with land titles. The bill also provides for digitalization of documents and use of bio-metric authentication.
When implemented the draft bill will have pioneered the introduction of strata-titles in India. These titles will provide clearer titles for ownership of apartments in multi-level blocks of apartments and make it easier both for the promoters of these developments and mortgage providers.
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The legislative and regulatory update is compiled by Nishith Desai Associates, a Mumbai-based law firm. The authors can be contacted at nishith@nishithdesai.com. Readers should not act on the basis of this information without seeking professional legal advice.
