The Registration (Amendment) Bill, 2013 was introduced in Rajya Sabha on August 8, 2013, and now has been re-referred by the Speaker, Lok Sabha to the Parliamentary Standing Committee on Rural Development for examination and report.
The Bill seeks to amend the Registration Act, 1908. It inter alia provides for compulsory registration for the leases of immovable property for any term, registration of immovable property only in the State in which it is actually located. Every person presenting any document at the proper registration office shall have to affix in the document a passport size colour photograph and get photographed by a digital camera and affix thumb impression in the document by manual or by biometric device. The Bill has provision for forwarding of copies by the banks and financial institutions, granting loans on the basis of equitable mortgage where immovable property is mortgaged by deposit of title deeds for the purpose of securing repayment of the loan. It also provides for compulsory registration in the cases where transaction of immovable property occurs through Power of Attorney (PoA), refusal of registration of documents relating to transactions prohibited by Central/ States Acts, refund/ recovery of Registration fees, etc.
The Committee has invited memoranda containing views/suggestions on the Bill, from the individuals/ experts/ professionals/ organizations/ associations/ those interested in the subjects matter of the Bill.
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