An Explainer: Cadastral Survey
Land is a vast and highly capital-intensive asset. These attributes make it both difficult and crucial for authorities to maintain land records and keep a track of property-related transactions. With the face of the earth changing every day, the task becomes even more difficult.
To achieve this, cadastral surveys are conducted across the world. Typically, a cadastral survey is a comprehensive study of land, its location, its value, etc. A cadastral survey shows the extent, boundaries, value, and ownership of land. These details prove handy when authorities want to fix legal and tax liabilities involved in the sale and purchase of land parcels. Through these surveys, authorities assign a numerical identity to land parcels.
For instance, the superintendent of land records in Mumbai has allocated city survey numbers to land parcels which act as their identification number. It is a must for buyers and sellers to be aware of this number at the time of property transaction, as stamp duty and other charges are generally decided on the basis of the City Title Survey, or CTS number.
As far as home buyers are concerned, cadastral surveys and information based on them allow people to take an informed decision while buying property.