Advantages Of Block Chain In Real Estate

Blockchain has been used as currency to carry out real estate transactions in many countries. Even though it does not have any legal validity in India, it is considered to bring in transparency, resilience and security to the country’s real estate sector.

Here are the benefits of block chair in real estate sector

•    By allowing fractional ownership, digital tokens will make investment in real estate more profitable. This enables real estate asset to be more tradable while also eliminating its illiquidity aspect.

•    Enabling digitalization of land and property records will help remove the problems tracing ownership. Details regarding the location, property age, ownership history, title details, etc. will be accurate and easily available on subscription-based platforms.

•    Blockchain will help optimize the real estate transaction by enabling intermediary cost cutting which will make transactions faster. Integrating region-specific costs like registration, stamp duty, etc. with block chain technology will enhance the effectiveness of the sector.

•    Transactions through block chain are secured, transparent and fair which reduces the Transactional risk in real estate is minimised through block chain which ensures security and transparency.

•    It will also enable the banks and other lending firms to check the credit history, income and other demographic factors associated with lending.

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