23rd May, 2018
Awareness

Property Aadhaar linkage next on the cards,hints Union housing minister

In another move to crackdown the black money, the Prime Minister Narendra Modi is now targeting immovable property. The government is taking one step ahead in its fight against black money.

For the first time, a Union Cabinet minister has indicated that Aadhaar linkage with property transactions would be made mandatory soon.

Union Housing Minister Hardeep Puri has said that the linkage would happen. Puri added that such a move would go a long way in sucking out black money from real estate and also help in crackdown on benami properties.

However, the minister refrained from making any official statement on that. “Seeding Aadhaar to property transaction is a great idea but I’m not going to make an announcement on that. We are already linking Aadhaar to bank accounts, etc, and we can take some additional steps for property market also,” he added.

Talking about challenges 

Puri also said that no one can absolutely enforce complete transparency in transaction between two individuals but large-value transactions such as property and air tickets could be monitored.

He added, “There is no economy in the world that is entirely cashless. However, people do not feel the need of carrying large wads of cash around in economies that have stable system. That’s the way we are heading”.

Mandatory Aadhaar linkage to innumerable government schemes and for identification has generated a lot of debate. Several petitions against the Aadhaar linkage are pending in the court.