By Chathushka Perera
Mumbai, India (CWBN)_ The physical distribution of property cards, demarcating ownership, was launched by the Indian Governement, under the “Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA) Scheme, as a major step toward rural development. The scheme was launched on the 24th of April 2020 with the intention of “integrated property validation” for rural land used for residential purposes (abadi) in inhabited areas, using survey drones.
The newly granted property rights provide over 100,000 property holders from 763 villages Uttar Pradesh, Haryana, Maharashatra, Uttarakhand, Madhya Pradesh, Karnataka and a few border villages from Punjab and Rajastan, with a financial asset to obtain loans, benefits and other services from banking institutions. Hence it would also provide rural communities with much needed financial stability and poverty alleviation.
The four year scheme would cover over 662,000 villages across the country by the end of its term in phases.
What is being described as a “historic move” would subsequently generate property tax revenue. Government records indicate that about 19% of the tax revenue was collected by village councils, in 2018. Furthermore the government further anticipates a reduction in property disputes, legal conflict and address the lack of fixed tax rates. With the Indian economy in recession due to the Covid-19 pandemic, it is possible that the on-going, grassroots level developments would provide a boost to approach its targets in the coming years.
Edited By: Elishya Perera
