Modi launches property card scheme to aid rural households
MUMBAI (Reuters) - Prime Minister Narendra Modi launched a real estate card system on Sunday that aims to clarify money rights in the villages and enable farmers to use their property as collateral for loans from financial institutions.
Two thirds of the Indian population live in rural areas where few have proper land registrations and property disputes are common.
"This is a historic effort to transform rural areas," Modi said in a webcast speech at the launch of the program.
The government plans to use drone technology to map parcels of land in rural areas and cover around 620,000 villages over the next four years, Modi said.
"Despite owning homes, people have had several problems borrowing from banks. These people can now easily borrow from banks after showing real estate cards issued under the ownership plan," Modi said.
An initial group of 100,000 people from over 750 villages in six states will receive the digitized real estate maps starting this month.
Each card has a unique identity number that is similar to the Aadhaar card - the world's largest biometric identity project, involving more than a billion people in India.
(Reporting by Rajendra Jadhav; Editing by William Mallard)
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