On Tuesday union housing minister Hardeep Puri said to crackdown benami properties and to curb black money from real estate, soon property transactions will be linked to Aadhar.
Several times Prime Minister Narendra Modi has indicated that the government would clamp down on benami property. Puri is the first union minister to confirm that Aadhaar link with property transactions would actually be made mandatory.
According to Union housing minister Hardeep Puri, “Seeding Aadhaar to property transactions 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.”
When asked if linking Aadhaar with property is a logical conclusion of the government’s drive to push Aadhaar to bring transparency in the economy, Puri said, “Absolutely, that’s the way it’s heading anyway. I have no doubt that it will happen.”
Large-value transactions such as property and air tickets could definitely be monitored, but no can absolutely enforce that a transaction between two individuals is completely transparent, according to Puri.
Puri said, “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 a stable system. That’s the way we are heading.”
Mandatory Aadhaar linkage to numerous government schemes and for identification has generated a lot of debate. Several petitions against the Aadhaar connection are being heard in the court.