Summary:
However, the property card scheme introduced by the government for Mangaluru City has made this process difficult. “Since there is lot of confusion with regard to the distribution of property cards and people are forced to stand in queue, a property adalat should be conducted for the convenience of people. Dakshina Kannada District Cooperative Union Limited president Harish Acharya said that the common man faces difficulties in availing home loans and other property loans.“Cooperative societies and cooperative banks have to follow the rules and need to register land records with the deputy registrar of properties before sanctioning home and property loans. “It has not only affected the cooperative sector, but also the common man who applies for loans. MANGALURU: While the government has made property card mandatory for registration of property in Mangaluru City, the move has not gone down well with the cooperative sector.Cooperative banks, which distribute home loans and hypothecation loans, complain that they are not able to sanction such loans since most of the land owners are yet to obtain property cards..