Title Insurance – Today’s Requirement Of Indian Real Estate Market

The Indian real estate market has no doubt reached all the highs in the past few years. Foreign investment is one of the contributing factors in this rapid growth. But to sustain this growth and to attract more and more investors from abroad Indian real estate market needs the title insurance policy. Lack of title insurance prevents many NRIs’ funds to flow in. Outside India this kind of policies are very common but in India it is still new. Many foreign companies are seeing opportunities in this field and trying for tie-ups with legal consultancy firms in India.Title insurance is an insurance that protects a person from the losses that can arise due to the problems in the title of the property. Over a period of time a property may pass through various ownerships. This insurance is designed to protect the insured from the losses arising due to the defects occurring prior to the time of issuing the policy in the title of the property. The policy covers the person (insured party) for any claims and legal fees that can arise due to any of such problem.A regulatory approval is required in India for the title insurance. It is one of the key areas to look for while buying property in Indian real estate market. Statistics of properties bought over last 100 years are showing loads of challenges related to title and bad loans. There is a need for the title insurance in India to protect the interest of investors.The title insurance is a onetime premium policy which can be issued to anyone who is interested in buying or selling property. It is required to ensure that the title of the property is safe and conducive for any future transactions. It is a policy in favor of the consumer as well as the future buyers and sellers as it makes the process easy and quick deals are possible with title insurance.  Once the bill is passed in the parliament the title insurance policy will gain importance very quickly. The things will become easy for prospective foreign investors after the title insurance policy will be passed in India. The target segments for the title insurance are both the residential as well as commercial real estate transactions across India. It will change the landscape of the real estate market.A lot of manual and digital work is involved while materializing the title insurance policy as many of the properties do not have proper records of their history. But if we see the requirement point then it is really necessary in today’s scenario to have Title Insurance of any property and the is not far when any new buyer/ investor will feel to have the title insurance for a no tension future related to the property ownership. It can definitely help Indian real estate market to attract domestic as well as foreign investors.Ruchi Mahajanзайм на карту без отказов круглосуточновзять кредит онлайн