YEIDA property deeds to launch online from June 1

One of the most significant projects in India – the Yamuna Expressway Project, will have its property deeds launched online from June 1. Officials announced recently that the Yamuna Expressway property deeds will go online this year. 

The whole digitization process will begin with the property transfer facility for the residential category. How does this impact the Yamuna Expressway Project in the long run? We cover this extensively in the article.

YEIDA property deeds go online – what does this mean?

According to reports, YEIDA had been receiving complaints about pending property transfer cases. These cases were being delayed by employees, which led to general discontentment amongst allottees of the Yamuna Expressway Project.

Consequently, officials announced that any work involving registration or property transfer will be conducted online from June 1, 2022. The CEO has been charged with the task to identify any employee or staff who fails to follow the orders. Needless to say, the authorities are trying to ensure safety for all involved parties.

The authorities have implemented the citizen’s charter for the Yamuna Expressway Project. This means that seventeen facilities regarding the allottees will be available online. For instance, if you want to get a property transfer, it will be done online from June 1 for the residential category.

Any online process requires the verification of documents. Thus, you need to have ready access to documents like AADHAR. Every buyer and seller will be verified on the basis of their AADHAR card. Therefore, registration of AADHAR is mandatory for doing any transaction related to the Yamuna Expressway Project.

This comes as a relief to buyers and sellers as well as governing officers. Getting the challan verified physically used to be a manually challenging task. It often led to pending work and general discontentment amongst buyers and sellers.

Moreover, YEIDA has also asked UIDAI for one-time password (OTP) security. The OTP will further improve the security of any property transactions taking place online.

How will this impact the Yamuna Expressway real estate?

Well, the goal of YEIDA is problem-solving. The Yamuna Expressway Project will see faster transactions by making the property deeds available online. Under the citizen’s charter, 17 facilities will be available online. 

It will also attract more business as online property transfers are much faster and easier to verify. YEIDA will ensure that buyers and sellers do not have to visit the registration offices by launching the residential property deeds online. 

Furthermore, there will be minimal delays regarding the verification of documents. The authorities will take stringent action against any defaulters.

Additionally, writing to the Unique Identification Authority of India is a good move. This will further reduce any risks involving YEIDA area residential property transfer online.

Frequently Asked Questions about YEIDA.

What is YEIDA? YEIDA refers to the Yamuna Expressway Industrial Development Authority. Established in April 2001, YEIDA is responsible for the development of the ambitious Yamuna Expressway Project. 

Given the massive ₹4528 crore budget allocated for YEIDA for 2022-23, this is a coveted Indian real estate site. The vision for YEIDA is to create a sustainable, accessible city by using all the resources that Noida provides. This means a prime spot for real estate enthusiasts as Noida is fast becoming an IT hub in India.

Conclusion: How will it impact the Yamuna Expressway Project?

Two immediate consequences of launching the property deeds online will be – 

• Better security
• Faster property transfer

There will be fewer chances of fraud by authenticating and verifying buyers and sellers online. Demanding verified Aadhar credentials and integrating an OTP will further enhance security against cyber fraud and online scams.

The YEIDA online property deeds will also make transactions easier. The procedure will be smoother and faster and consequently make property transfer hassle-free for all involved parties. 

Making YEIDA property deeds available online is one small step towards a digitally progressive India. The idea to fast-track the whole process is great on paper. The results are yet to be seen, but one can expect a promising future with easy real estate transactions.

Source: TOI

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