PAN Card: Big news for everyone. In Uttar Pradesh, providing a PAN card is now mandatory for purchasing land, a house, or any other immovable property. The Registry Department has issued a new order in this regard. Under this order, it will now be mandatory to enter and verify the PAN number during the property purchase and sale process.
Key Takeaways
Quick Read- PAN Card: Big news for everyone.
- The Registry Department has issued a new order in this regard.
- The government has sent out instructions to all district registry offices.
- If the PAN information is missing, the registration process can't move forward.
The government has sent out instructions to all district registry offices. Officials are required to input the PAN numbers for both the buyer and seller in the online property registration application. If the PAN information is missing, the registration process can’t move forward.
This decision by the government aims to reduce suspicious transactions and the buying of benami properties. There’s a particular emphasis on the India-Nepal border areas to stop land purchases that involve foreign funding and illegal investments. By requiring a PAN, it will help in accurately tracking every transaction. The Registry Department is also updating its software system to allow for instant online verification of PAN numbers. This will help avoid registrations based on fake documents and false identities, and will also aid in matching information for tax purposes.
Guidelines have been sent to all registry offices
Officials believe this new rule will enhance transparency in the property buying and selling process and help reduce illegal investments. This rule will be enforced across the state, and all registry offices have been directed to implement it strictly. Now, anyone looking to buy land or a house in Uttar Pradesh will need to provide their PAN card details during registration. Without a PAN, registration won’t be possible.
