Speaking at the launch of the e-stamping system, he said that prominent insurance companies have been appraised about the scheme, and they have agreed to come out with an insurance package soon.
The title insurance scheme aims to provide insurance cover to sale transactions, in order to compensate for losses in case of any defect in the title. The Government has also announced 0.5 per cent reduction in stamp duty for those who avail of the scheme. Though the scheme was announced in 2005-06 budget, it is yet to see the light of the day.
Lokayukta justice N Santosh Hegde, who released a booklet on the department, said itle insurance will help the public secure their property title from land sharks. By implementing the scheme, the department can enhance its credibility, he added.
Shashidar also said the department has digitised all records pertaining to two lakh societies and firms across the State.