InvestorQ : I am planning to buy a property and am told that it is essential to link property to Aadhar card. Is that correct?
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I am planning to buy a property and am told that it is essential to link property to Aadhar card. Is that correct?

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Moii Chavate answered.
2 years ago
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In fact, in the last couple of years there has been a certain buzz about a decision to link Aadhaar with property deals. However, as of now it is not yet officially announced. If the government goes ahead and implements the move of linking Aadhaar with property, it will constitute another strike against black money and money laundering. This will largely reduce the number of benami transactions that happen in the real estate space and that is one of the reasons why the space is still very limited in terms of usage and spread.

However, since the Modi government came to power in 2014 it has tightened the rules and regulations on black money and the first hit of the campaign was taken by the real estate sector. With black money flows into the property segment waning, the prices fell and tepid demand has been one of the key drivers of the economic slowdown. However, I am not too sure if the government will go ahead and implement this measure at this point of time when the GDP growth is slowing. Realty sector is already hit by the combination of demonetization and the RERA act. Hence adding an Aadhar angle to it at this point may only complicate matters. But at some time in the future, this is likely to come.

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