The Union Panchayati Raj Ministry revealed that rural properties worth ₹1.37 lakh crore can be monetized for loans under the SVAMITVA scheme, using drone-based surveys to demarcate areas.

The ministry stated that many states previously lacked mapping of populated village areas, limiting access to institutional loans. However, with the survey’s implementation, property owners can now use their property cards to secure bank loans, providing a legal framework for this process.

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To boost economic progress in rural areas, Prime Minister Narendra Modi launched the Swamitva scheme in 2020, utilizing advanced technology for village surveys. So far, around 3.17 lakh villages, covering 92% of the target 3.44 lakh villages, have been surveyed. Property cards have already been distributed to residents of 1.36 lakh villages. On December 27, PM Modi will initiate the distribution of five million property cards nationwide.

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Unclear Ownership Details of the Property

According to a Hindustan Times report, Peruvian economist Hernando de Soto stated that capitalism struggles in developing countries due to unclear land ownership. Panchayati Raj Ministry Secretary Vivek Bhardwaj explained that the Swamitva scheme addresses ownership in rural populated areas. Under this initiative, PM Modi will distribute 50 lakh property cards.

While people in these regions possess significant property, the lack of defined ownership prevents access to bank loans, hindering economic activity. The estimated value of such properties, even at the lowest market rates, is ₹1.37 lakh crore, though the actual value could be much higher.

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