When the world is going online, why not the real estate industry! According to a news reported by the Economic Times, Delhi may soon become the first city to offer an online facility for property registration, making rent agreements and exercising the power of attorney in property related matters. A trial run of the software has been carried out by the Revenue Department and the government is of view that the site will be operational after two to three months.
This is the first step taken by the government in bringing the real estate industry regulations on an online platform. No other state in India has such facility; Delhi is the first one. It is generally a hassle for the buyers to get their property registered. After they purchase a home, they have to visit the sub-registrar office for getting it registered. But when the online facility will be functional, they just have to visit the website, fill in the correct details and register the property without any hassle. [Read more…]