Digital Property Verification in Pakistan- How Can It Help

The digital world is rapidly becoming the most important part of our lives. The way we communicate, buy goods and services, book tickets and reservations, pay bills and make payments has completely changed over the years. This has resulted in a lot of benefits for people as well as businesses. Digitalization has also made it easier to transact with other countries and this has increased the number of tourists visiting Pakistan. However, there are some issues that have cropped up due to the use of digital transactions. One such issue is the verification of documents and data.  

What is Digital Property Verification? 

In simple terms, it is the process of verifying the authenticity of information related to property or land. For example, if you want to sell your house, you need to get the approval from the government before you can complete the transaction. In order to do so, you will have to submit certain documents like utility bills, tax records, bank statements, etc. All these documents will be verified by the government officials to ensure that they belong to the person who has applied for selling his house. 

This is how digital property verification works. A company collects all the necessary information about the property and then sends it to the government. Based on the submitted information, the government verifies the authenticity of the document. If everything goes well, the transaction will be completed and the money will be transferred into the seller’s account. On the other hand, if any discrepancies are found, the buyer will be asked to provide additional documentation or face legal action. 

The Importance of Digital Property Verification 

Pakistan is one of the fastest growing economies in South Asia. With a population of 180 million people, the country is currently home to more than 5 million expatriates living abroad. These expats are spending billions of dollars each year on real estate and investments. They need to transfer their money from foreign banks to local ones. Due to this reason, the government has started implementing digital property verification to reduce corruption and tax evasion. This will help them curb illegal activities such as smuggling, terrorism, drug trafficking, and human trafficking. 

It is also beneficial for the buyers because they will not have to visit the government office every time they want to sell or buy property. Instead, they can simply send an email containing all the required documents to the designated address and the government will verify it. As a result, both the buyer and the seller will save time and effort. Moreover, the use of digital verification has reduced the cost of doing business since the government does not need to hire hundreds of employees to check the authenticity of documents. 

Challenges Faced By Digital Property Verification 

There are several challenges faced by the government while using digital property verification. Some of these include: 

1. Digital verification is costly – There is no doubt that digital property verification is much cheaper than the conventional method of verification. However, it is still expensive for the government to implement it across the country. This is mainly due to the fact that the current infrastructure in Pakistan is not strong enough to support the digital verification system. 
2. Lack of awareness among the citizens – Most of the people in Pakistan do not know how to use digital systems and how to access them. Therefore, they find it difficult to understand the digital property verification system. In addition, they do not trust the government when it comes to providing secure and reliable services. 
3. Fraudulent websites – There are many fake websites available online which provide fraudulent digital property verification services. This is done to fool people into thinking that they can avail the services without paying anything. 
4. Cyber attacks – Cyber criminals often launch cyber attacks against digital platforms. They try to hack into the database and steal sensitive information. This may lead to identity theft and financial loss. 
5. Security breaches – Digital property verification companies do not take security very seriously. Their databases contain confidential information and they are easily accessible. Hackers can break into these databases and misuse the information. 

Final Words 

Digital property verification is one of the most effective ways to curb corruption and tax evasion. It is essential for the government to create awareness among the people about the importance of digital property verification. The government should also invest heavily in building the necessary infrastructure to support the digital verification system.