Status Of Aadhaar Card For Purchase Of Property

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Status Of Aadhaar Card For Purchase Of Property

Status of Aadhaar Card for Purchase of Property
  
First of all, it is better to understand some basic and latest information about this ID Card. Aadhaar Card is a 12-digit unique identity number. It can be obtained by residents of India. It is based on the biometric and demographic data of the person. This data is gathered by the Unique Identification Authority of India (UIDAI). This organization is a statutory authority. It was established in January 2009 by the Indian Government. It comes under the jurisdictions of the Ministry of Electronics and Information Technology. The basis for this Card is the provisions of the Aadhaar (Targeted Delivery of Financial and other Subsidies, benefits and services) Act, 2016 passed by the Indian Parliament. It is the world's largest biometric Identification System.
During late September 2018, the Honourable Supreme Court of India has given it judgment regarding the validity of this card.  This card is a very ambitious project by the government of India since 2009. The court upholds the legal validity of this card. With this judgment, a long-term debate about its constitutional validity came to an end. It is noteworthy the court also removed some of the key clauses the Aadhaar Act 2016. This is aimed at stop misuse of this ID Card and protect the privacy of Indian citizens.

  • If you are doing a private job you do not need an Aadhaar Card to get your account active for receiving your salary
  • It is not mandatory for getting your pension also
  • For opening a bank account this card is not compulsory now
  • For buying a SIM Card also your telecom operator or mobile company cannot compel you to give details of this card
  • Even schools cannot compel students or parents to submits their Aadhaar details
Where it is necessary?
  • For paying your taxes and getting your PAN Card, this card is used for paying income tax
  • Getting benefits of the government's various welfare schemes, but not for state welfare schemes
Effects of these changes on property buyers in India:
Uptill now property buyers and their document makers very freely used the Aadhaar Card for proving the buyer's identity and address both. There are more than 1.1 billion Aadhaar holders in the country up till now. But with this latest court judgment, it is now clear that Aadhaar Card still has a constitutional or legal validity. Because of this its use as a valid proof of the buyer's identity and address is least likely to stop. It is true that now banks cannot ask you your Aadhaar details for issuing you a home loan. But if you are going for a loan under Indian government schemes like the Credit-Linked Subsidy Scheme (CLSS) which is under the Pradhan Mantri Awas Yojana (PM) it is mandatory for you to submit its details to the concerned Government departments.
As a regulation, and while giving you any loan bank will ask you about your PAN Card and Income Tax related details. As we discussed earlier Aadhaar is necessary for getting a PAN Card and also for filing your Income Tax Return. Even if you are buying a property insurance again you will have to give your PAN Card, this means you are indirectly providing your Aadhaar details also.
At present this is a debatable issue whether to make Aadhaar Card compulsory for registration of a property, the government has not decided any clear guidelines about this matter yet.

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