The Departmentally Related Parliamentary Standing Committee on Rural Development has invited views/suggestions on The Registration (Amendment) Bill, 2013.
The Bill seeks to amend the Registration Act, 1908, and inter alia provides for compulsory registration for leases of immovable property for any term, registration of immovable property only in the State in which it is actually located.
As per the Bill, 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 a thumb impression in the document by a manual or a biometric device, said an official release.
The Bill also has a provision for forwarding of copies by 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.
In cases where transaction of immovable property occurs through Power of Attorney, the Bill provides for compulsory registration as well as refusal of registration of documents relating to transactions prohibited by Central/ States Acts, refund/ recovery of Registration fees, etc.
Copies of the Bill can be downloaded from the official web-site of the Lok Sabha ( >http://loksabha.nic.in ) under the icon ‘New Events’, said the release.
The Bill was re-referred by the Speaker, Lok Sabha, to the Standing Committee on Rural Development for examination. It was introduced in the Rajya Sabha on August 8, 2013, and was re-referred last month for examination under the Chairperson P. Venugopal, Member, Lok Sabha.