The center’s crackdown on black money as it were is now targeting its use in the Real estate sector. The Centre in consultation with the Ministry of Housing and Urban Affairs and the Department of Land Resources is discussing a proposal and the modalities involved in linking Aadhaar of owners to immovable properties. Currently, the issue is being discussed at the highest level of the government and is in the preliminary stage. On finalization, it will be implemented by the state governments.
By linking Aadhaar to properties the government hopes to identify benami properties which are used to park black money. Currently providing PAN is mandatory for registration of properties of a certain value in some states, however, many transactions go undetected. PAN and bank accounts are already linked, linking properties will help tax authorities identify and monitor the entire transactions of a person.
However several petitions have been filed in court citing breach of security and privacy issues.
Source – Ajith Athrady in New Delhi, DHNS (21 /11 /2017)