SVAMITVA scheme boosts bank credit, Panchayat revenues: Centre
New Delhi, July 21 (TNT): The Centre on Tuesday said the SVAMITVA Scheme has helped increase bank lending against rural property ownership records and enhanced the own-source revenues of Gram Panchayats by providing legal property records to residents of rural inhabited areas.
The Ministry of Panchayati Raj said the primary objective of the scheme is to provide Record of Rights to property owners in rural inhabited areas through accurate mapping of village abadi lands using drone surveys and Continuously Operating Reference Stations (CORS) technology.
According to the Ministry, the high-precision maps help reduce property-related disputes by clearly demarcating property boundaries and creating ownership records.
The scheme also provides for ground verification and resolution of objections by the competent State authorities before Property Cards are issued, ensuring transparency in the demarcation process.
The Ministry said an impact evaluation conducted by the Indian Institute of Management (IIM), Ahmedabad found a substantial increase in the value of bank loans availed against Property Cards issued under the scheme.
The study also recorded an increase in property tax collections and other local tax revenues of Gram Panchayats following implementation of the scheme.
The Ministry, however, said it does not maintain data on the number of land disputes resolved before and after the implementation of the scheme.
As of now, drone surveys have been completed in 3.30 lakh villages, while 3.24 crore Property Cards have been prepared covering 1.97 lakh villages, the Ministry added.
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