Property Rate card to be replaced with a unique number

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The Property Card will soon be replacing with a unique reference number assigned to each property. A property record is issued to those who own a property in the city comprehensive project taken up for the first time. It is an important change in securing the rights of property owners. This very document is primarily a paper at present, the Survey, Settlement and Land Records Department has plans to do away. This will be possible by linking the Department’s database electronically with that of the Registration Department banks and once permission is granted.
Former commissioner V Ponnuraj said, this PR card is going to be property ownership document an instrument for any transaction of a property sale, mortgage, raising loan and it will also be an instrument of transfer in the land market. There are plans to establish a land market later as it does not exist today but is the need of the hour. As for now the PR card will be available both as soft copy as well as hard copy. Later we could also create a DEMAT format of the PR card. It will pave way for hedging, insuring the property.

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