NADRA To Develop CDA Biometric Property Transfer System
National Database and Registration Authority (NADRA) is going to in setting up a CDA biometric property transfer system. CDA has been looking to digitalize its property sector and for this purpose, they went into an agreement with NADRA.
The agreement was signed by both the chairmen of the organization, Mr. Tariq Malik (NADRA), and Mr. Amir Ali (CDA). There was a small ceremony held at NADRA headquarters and the importance of digitalization of the real estate sector was discussed at length.
NADRA is planning to develop a biometric verification system from the ground up that is going to aid the process of the sale, purchase, and transfer of properties in the capital city. This verification system is going to eliminate the chances of fraud in the real estate sector.
CDA biometric property transfer system is going to digitalize the processes that previously took months to complete. According to an estimate by the authority, there are over 20,000 transactions taking place in the sale, purchase, and transfer of land and other types of properties in Islamabad.
The chairman of NADRA pointed out the significance of the biometric verification system in the real estate sector. He mentioned that it is completely going to eliminate the factor of forgery in the market.
The added benefit of digitalizing the real estate sector in Islamabad is its compliance with know-your-customer (KYC). NADRA is well-equipped to run the entire system independently and it is going to benefit the people who are looking forward to investing in real estate.
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