“Rural land-related procedures will now be assigned a unique land parcel identification number while urban land records will be digitised with GIS mapping,” said Sitharaman.
Shares of MapmyIndia are currently trading 9.28% higher at Rs 2,470, while that of Genesys International Co-operation are up about 7.28% at Rs 682 on the NSE.
MapmyIndia is a technology company that creates digital maps, geospatial software, and location-based IoT technologies. The company serves government agencies and national food storage firms in India.
Meanwhile, Genesys is engaged in providing geographical information services consisting of photogrammetry, remote sensing, cartography, data conversion, three dimensional (3D) geo-content, including location navigation mapping and other computer-based related services.The finance minister said the digitisation of land records in urban areas will help improve finances of urban bodies.Sitharmana also announced that rural land-related procedures will now be assigned a unique land parcel identification number and a land registry will be established.These announcements related to rural land areas are expected to support mortgage underwriting in rural areas.
“Rural land-related actions will include assignment of a unique Aadhaar for all lands, digitisation of terrestrial maps, survey of lands, and establishment of land registry,” Sitharaman said.
In her Budget speech, Sitharaman further said the government will hold consultation with states on land reforms and will cover land administration and planning and building bylaws.
