Blockchain powered property management system enables the availability of common ledger of the property faciliating a single source of truth. The property details and all the transactions on the property ( pledge, release of pledge, inheritence mutation, sale, gift, acquisition initiation, allienation, etc.) would be stored in the blockchain so that even while the process of the mutation is being executed in the land records system to reflect the transactions on the property, all the stakeholders will be able to see the complete history before taking decision. The prospective buyers will benefit greatly in ascertaining the ownership and also the rights, liabilities, details of GPA etc. This will greatly reduce the litigations and speed up the disposal of disputes/cases.
Bhoomi, e-asthi, e-swathu applications of Karnataka are getting integrated with Property Chain for recording the transactions and state of the property. URL : https://propertychain.nic.in
For More Information : Property Chain Concept Paper