SC pushes for reform of colonial-era property laws, Pg10

Key Highlights:

• The Supreme Court has called for reforms to colonial-era property laws, noting that property disputes constitute 66% of civil litigation in India.
• The court directed the Law Commission of India to prepare a report on restructuring property transaction laws like the Transfer of Property Act, 1882.
• The court highlighted issues such as fake documentation, land encroachments, and red tape as factors hindering property transactions.
• The court has urged the central government to adopt blockchain technology to enhance transparency and ease in property registration.

Detailed Insights:

• The Supreme Court observed that buying and selling property in India is often a "traumatic" experience due to various systemic issues.
• Current property laws, including the Transfer of Property Act, 1882, the Registration Act, 1908, and the Stamp Act, 1899, are outdated and need modernization.
• The court noted that the right to own immovable property includes the freedom to acquire, possess, and dispose of it freely, reflecting a nation's institutional maturity.
• The adoption of blockchain technology can provide an immutable and time-stamped record of land titles, ownership histories, and transfers, enhancing transparency.
• Registration procedures vary across states because land is a State subject under the Constitution, leading to inconsistencies and complexities.

Key Concepts Involved:

• Transfer of Property Act, 1882: A law regulating the transfer of immovable property in India.
• Registration Act, 1908: Legislation providing a framework for registering documents related to property transactions.
• Blockchain Technology: A decentralized, distributed, and immutable ledger used to record transactions across many computers.