by Souma Mukherjee,
Recently, in an exclusive interview with ET Now Mr. Hardeep Singh Puri, Minister of State for Housing & Urban Affairs, Government of India, expressed his views on the idea of linking Aadhaar with property deals to crack the Benami Property and black money transactions. He also shared that ensuring complete transparency is difficult in the current scenario but the large portion of monetary transactions in this sector can be tracked. Even though the announcement has not been officially made by the Ministry of Housing & Urban Affairs but chances of getting it rolled out are definitely high.
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Linking Aadhaar has already become mandatory for various procedures like the bank account, pan card, income tax returns, mobile connections and there is more to it for sure. The idea of linking Aadhaar can be a good move for this sector. The increase in Benami property and black money transactions has been one of the major concerns for the government since its inception. The Modi government has been continuously highlighting these concerns and have eventually put RERA – Real estate regulatory act in place to amplify this sector. However, RERA, by its virtue, is shaping up really slow, with more than 80% states yet to notify it.
Currently, Aadhaar has become a topic of national debate due to the data security and safety issues. The vulnerability of Adhaar has been questioned by the data specialist and opposition since its launch, though contrary to people’s conception, the government seems to have a plan of action in place.
Linking Aadhaar with property deals looks promising as far as tracking Benami property and Black Money is concerned, but are people ready for this! Share with us your opinion.