Prime Minister Narendra Modi launched on Sunday physical distribution of property cards under SVAMITVA scheme through video conferencing and interacted with the beneficiaries of the scheme.
Asserting that it is a historic move that will transform rural India, he added this will pave the way for villagers to use property as a financial asset for taking loans and other financial benefits, and end disputes among villagers over land ownership.
“Experts across the world have stressed that property ownership rights play a big role in a country’s development,” he said. The youth living in villages now can avail of bank loans against their properties to start out on their own, he said, asserting it is necessary for a developing country like India to have clear land ownership rights. Property rights will give the youth self-confidence that can lead to their self-reliance, he added.
The PM said his government will try to give every household similar property cards over the next three-four years. The Prime Minister’s Office has said the launch will enable around one lakh property holders to download their property cards through an SMS link sent on their mobile phones, and this would be followed by the physical distribution of property cards by respective State governments. Only one-third population globally have legal record of the properties they own, it is said. Also, it is expected that the decision to issue cards would stop malpractices. The ownership is also likely to end many disputes in villages.