Closing in on property fraud

by Paul Joseph on February 10, 2013 · 0 comments

On the lines of a information network to track a citizens’ credit history, the registry of land records has started gathering traction. The Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) tracks the history of a plot of land or flat to give buyers a clear information what they will get into. This is critical as retail buyers in this market often face an information asymmetry. The Cersai data bank tells the buyer if the property is already mortgaged or worse, has multiple title deeds. With a huge jump in the market for mortgages ( 18 per cent as per National Housing Bank data for the

[via India Properties - Real Estate India - Indian Property News Site]

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