Vidhi Singhal & Sneha Gupta, B.A. LL.B., Delhi Metropolitan Education affiliated to Guru Gobind Singh Indraprastha University
ABSTRACT
The digitization of property transfer laws is a transformative process with numerous benefits and concerns. The introduction of property law transfer and digitalization emphasises the transition from paper-based processes to digital platforms, allowing for improved efficiency, transparency, and accessibility in property transactions. The advantages and disadvantages of digitalization are examined, with an emphasis on improved operations and less paperwork, as well as concerns about data security. This paper will go through the influence of digitalization on property laws in India, as well as the obstacles and solutions to implementing digitization. Finally, future digitalization advancements and opportunities are examined, including the possibility of blockchain technology, artificial intelligence, mobile applications, integration with FinTech, and worldwide interconnection to improve property transfers.
To summarise, digitization provides considerable benefits to the transfer of property legislation while simultaneously posing obstacles. The full potential of digitalization in property transfers can be realised by utilising worldwide experiences, developing appropriate legal frameworks, overcoming difficulties, and embracing future innovations, resulting in a more efficient and accessible ecosystem.
Keywords: Transferor, Transferee, Digitization, Data Privacy, MOLRPS, GDPR, National Land Records Modernization Programme, Blockchain.
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