[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Hyaemin Park staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.|
PUNE: Mandatory Aadhaar-property linking can become a reality only after necessary changes are introduced in the Aadhaar Act without conflicting the Supreme Court ruling on the subject, experts stressed.
There have been reports that the Centre is in final stages of bringing in a law to make Aadhaar-property linking mandatory to weed out ‘benami’ (proxy) transactions and increase transparency, among others. “For this to happen, Aadhaar Act needs to be revisited and the SC’s consent will also be required,” an expert said.
The Supreme Court in September last year had upheld the Constitutional validity of Aadhaar, making it a legal proof of identity and address for over 1.2 billion holders. However, the apex court had scrapped certain key provisions of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, to protect privacy and data breach.
As per the SC ruling, private entities, such as telecom operators, banks, educational institutes and other players, were barred from seeking mandatory Aadhaar details of individuals for providing various services. “While Aadhaar would remain crucial for carrying out property transactions, one has to wait and watch as to how it can be possible to make it mandatory,’‘ a property developer said.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/aadhaar-property-linking-not-an-easy-road-experts/articleshow/72137315.cms
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