Land in India holds a significant share in the total asset value of Indian households. However, the poor quality of land title records results in excessive litigation, property disputes, and cases of fraud. This in turn affects the cost and certainty of transactions that involve land and real estate. Even though the Indian government has operated a land record modernization program for a decade now, progress has been slow. In 2016, the Real Estate Regulation Act allowed state governments to require title insurance for real estate projects. While some insurers have started selling title insurance products for real estate projects, the market is still at an incipient stage. The insurance regulator IRDAI has set up a working group to consider a general regulatory framework for title insurance in India. At this juncture, what are the key regulatory considerations for growing the title insurance market in India? Given that title insurance is widely used in the U.S., what can India learn from the title insurance regulation regime in the United States?
Join us for the seventh edition of the Political Economy Seminar Series for a discussion with Anirudh Burman based on his working paper, “Land Title Insurance in India: Lessons from U.S. Regulatory Approaches.” This seminar will include a presentation by Anirudh Burman, followed by a panel discussion featuring S. Chockalingam, Joel S. Peck, Yegna Priya Bharath, and Pramod Rao. This event will be held in partnership with the National Institute of Public Finance and Policy (NIPFP). The discussion will be moderated by Bhargavi Zaveri.
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