Thane Municipal Corporation (TMC) to Leverage blockchain Technology for Tax Property Assessment
India’s first blockchain-based project in Property Tax assessment has been implemented in Thane Maharashtra under the Ministry of Housing and Urban Affairs (MoHUA) flagship program of the government. Thane Municipal Corporation (TMC) has piloted a blockchain-based infrastructure for property tax assessment in collaboration with a Hyderabad located firm technological firm Veridoc Global India. TMC has developed a portal to facilitate the citizens to access the data regarding the tax-related queries and other official formalities. The portal will serve as a single outlet for faster approvals and data availability.
It will also facilitate the citizens with one scan system which will further accelerate and simplify the process and will enable the stakeholders to authenticate their original documents with the latest updates and developments regarding the tax issues. The move will be helpful for property buyers and sellers, lessees, bank executives among others.
Sameer Unhale, Chief Executive Officer of
Smart City and Additional Municipal Commissioner commented:
“This technology intervention will go a long way towards thwarting fake documents, we have seen it can significantly alleviate tedious paperwork and it enhances the already digitized system validation and record-keeping by providing instant access to authentic data any smartphone.”
Unhale further explained that blockchain technology is very much effective where frequent document authentication is needed in the public domain. The facility will enable better interdepartmental coordination and communication and will track late payments, resolve disputes, track tax collection targets, identification of non-delivery of bills.
Governments Initiative about the Project
The project executed has been considered as the first of its kind in India and is taking place under various technological initiatives by the current government. Apart from the Ministry of Housing and Urban Affairs (MoHUA), The Accelerating Growth of India Innovation (AGNIi), Startup India and Invest India programs are congregated under this flagship program.
More about VeriDoc Global India
VeriDoc Global India is a Hyderabad based Techno startup that provides blockchain-based solutions. Rea Achalkar CEO of VeriDoc Global India said, "With the successful conclusion of the pilot we expect that the final implementation of the blockchain solution will take about two months we are also working with others smart cities to identify the most suitable use cases of blockchain for their Smart City missions.”
The one-scan-away information provider facility developed by the VeriDoc will spread the essential data with the latest updates to the numerous stakeholders
Other Initiatives by TMC in Pipeline
Unhale further informed that projects regarding the transfer of Birth certificates and building permissions will also be executed on blockchains after implementation of the current project.
#Blockchain #TaxAssessment #VeriDocGlobalIndia #CryptoAssetRating #MoHUA #TMC #CAPP
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