Are you going to buy a home? Well, do you have all the essential documents in hand? Though you have all the required proofs and documents ready, one mandatory document one should have made ready is the Aadhaar card. Yes, the revolution of the Aadhaar card number as a mandatory document one should compulsorily submit for everything is taking over a huge impact on real estate sector as well. Among all the documents provided by the government, why Aadhaar is mandatory? Have you ever thought of this? If you have, read this article to get an idea of why it has become a mandate to include Aadhaar to buy or purchase flats or villas for sale in OMR.
The Unique Identification Authority of India (UIDAI) issued the Aadhaar card to every Indian citizen. This Aadhaar is particularly an essential document needed everywhere in everything our daily life.
**Want to join a company? You need Aadhaar card.
**Want to purchase a new mobile number? You need Aadhaar card.
**Want to open a bank account? Of course, you need Aadhaar card.
Besides all these, there is yet another sector the Aadhaar is an essential document. Have you guessed what I am talking about? That is the Real estate. If you want to buy or sell a house, you definitely have to have your own Aadhaar number to register for buying a home or selling one. Be it a flat or villas for sale or independent villas or individual house. You certainly have to produce your own Aadhaar number to buy it.
Aadhaar number is just a 12-digit identification number used to verify every resident’s particular. How is this possible? Because Aadhaar card is a single identification document that includes your biometric and demographic data. However, if you do not have any other documents like voter ID, driver’s license, and PAN card, you can submit Aadhaar number as a single essential document anywhere.
How has it become a mandate to submit Aadhaar number in buying or selling a property?
As the real estate sector is blasting aside with development, so is the false transactions and exchanges. These corrupt exchanges are not worth of 1000 or 2000 rupees, the exchanges are worth beyond lakhs these days. To avoid this fraudulent exchanges, the central government has established that the Aadhaar as a mandatory document for all types of realty businesses like buying or selling a property. This is applicable for all types of property, whether you buy villas, individual house, luxury villas, and flats in OMR or Independent villas in OMR, Kelambakkam, or any other regions in Chennai.
This is why home buyers and sellers must be aware of submitting their Aadhaar number as an essential credibility to own a home or sell one. This includes even for registration as well. This is especially useful to identify the right property owner. In case of any false transactions done by NRI’s, they can also be tracked by the Aadhaar number submitted by the owners during registration. With the other legal documents, Aadhaar card is also mandatory one to collect during the home buying process for registration.
Finally, residents of India are able to e-register their homes using Aadhaar number via the internet. This helps in identifying the right homeowners by the biometric information they used during e-registration.