SVAMITVA Scheme: The central government has taken an initiative through which land owners are being given a ownership card. With the help of this card, it will be easier to take loans from banks. PM Modi will launch the distribution of property cards from tomorrow i.e. 27 December. The Union Panchayati Raj Ministry said that rural residential properties worth Rs 1.37 lakh crore can be monetized to get loans through the ownership (SVAMITVA) scheme. The ownership scheme is a drone-based survey to demarcate properties in rural areas.

It is safe to take a loan

The ministry said that earlier the mapping of populated areas of villages was not done in many states. Due to this, there was a decrease in taking institutional loans there. However, after this survey, many property owners can secure bank loans with their property cards, now there is a legal basis for this.

92% survey completed

Let us tell you that for economic progress in rural areas, PM Narendra Modi started the survey of villages and mapping (or ownership) scheme with improved technology in 2020. So far, about 3 lakh 17 thousand villages and 92 percent of the total target of 3 lakh 44 thousand villages have been surveyed. Out of these, people in one lakh 36 thousand villages have got their property cards. Now on December 27, PM Modi will launch the distribution of 50 lakh property cards across the country.

Information about the owner related to the property is not clear

According to a Hindustan Times report, Peruvian economist Hernando de Soto said that capitalism does not work in developing countries. The reason behind this is that the owner of the land here is not clear. Panchayati Raj Ministry Secretary Vivek Bhardwaj said that the ownership scheme is related to rural populated areas. Under this scheme, the Prime Minister will distribute 50 lakh property cards.

People here have a lot of property, but nothing has been defined about who owns it. Due to this, people do not get bank loans. This leads to a decrease in economic activity. Taking into account the lowest market rates of the concerned area, the value of such property has been estimated at Rs 1.37 lakh crore. However, its actual value may be more than this.