BlockChain based Secure Smart Property Registration Management System and Smart Property Cards

Abstract

Land is an immovable unique property, its value depends on its location and to prove the ownership of the land, one must provide various legal documents that should conclusively prove it. Due to this reason a land administration and ownership title registration system should be highly secure to avoid any document forgery. The current real estate registration process take a long time to update in the centralized databases maintained in the government registration department, other departments related to the properties which creates numerous property ownership title disputes. The process of storing the land transaction records on centralized storage servers is vulnerable for the hackers to tamper the records to make duplicate, modify and forge the original transactions and also maintaining the ownership title i.e sale deed in the paper documents may lead to missing, damage of documents and also due to human errors it may contain improper, incomplete details related to the property. This paper proposes a system called the Blockchain based Secure Smart Property Registration Management System (SSPRMS) which provides a solution of tamper free, permanent storage of real estate transaction information records on the decentralized distributed public digital ledgers called hyper ledgers. The SSPRMS provides secure, instant the transfer of ownership title without the help of third party, with zero transaction cost using Smart Contracts, implemented based on PoW consensus algorithms, also providing the self-notarization mechanism, and availability of evidence for the land title from distributed databases and a Smart Property Cards (SPC) provides a mechanism for storing updated owner ship title and other details of the property in the digitized form on the digital smart cards instead of storing these information in the paper documents which eradicate the property related disputes, the fraudulent, illegal registrations of property ownership titles.