New software to secure Pune property deals

Published on by 7bighagroup


Buying and selling properties in the city is expected to become more secure, as the inspector general of registrar will soon adopt a new software, iSarita, which will prevent frauds such as selling a property to multiple customers using forged documents. The new software will be introduced at all property registration offices in the state in two months.

The software will detect within 10 minutes if a property, which has come up for registration, has already been sold to somebody else by the same person earlier.

At present, it takes at least two months for information on property deals to reach all registration offices, giving scamsters enough time to carry out multiple fraudulent deals of a property.

Speaking to TOI, inspector general of registration and controller of stamps, S Chockalingam, said, “At present, such fraud practices are being carried out as the offices of the registrar do not have an updated information on properties that are to be registered. Banks that offer loans on properties, such as flat or land, started facing problems due to fraudulent activities. Banks, as well as the customers, who have been similarly duped, requested us to initiate some action.”

Four to five cases of property fraud are registered every month in the state. Every year, the office receives about 20 lakh property documents.

Earlier, property registration was manual and people had to spend an entire day on registration. The state government then started computerized registration of a property at any office in the city, but those offices were not connected. The entire data from various offices in the city was compiled at the joint district registrar office, but it was not cross checked. The data was stored in compact disc format, which could be accessed by customers on request. But the information used to be two months old, giving time to scamsters to register fraudulent deals. All these practices will be curbed when the new system becomes functional. By December it is expected to run smoothly, said Chockalingam.

“The existing software used for property registration is called Sarita, which will be supported with an intranet system called iSarita. Once, a customer provides property documents to the registrar office, the current status of the property will be available and can be verified with documents provided by the parties concerned. Cities having multiple registration offices face problems of fraudulent deals because those offices are not connected locally. Once iSarita becomes operational, I will be able to get updated information of property document registration on a daily basis”, said Chockalingam.

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Published on Pune Real Estate News

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