Real Estate

1 out of 3 property sale was digitally made by ‘web tapu’ in Turkish Land Registry dept

According to the written statement of the Ministry of Environment and Urban Planning, low interest rates of housing loans caused an increase in the house sales.

The number of daily operations of the directorates of land registry, including turn-over and sale reached 70 thousand last month.

The directorates of land registry carried out 357 thousand sales in July; 113 thousand of these sales were carried out via the application of web tapu. This application relieved the intensity of the housing and estate sales happening in the directorates.

İstanbul, Ankara, İzmir, Antalya and Bursa were the top 5 cities that most used the web tapu application. The operations were carried out without requiring ID cards, certificates (expert report) presenting the real estate value statement, company authority certifications and the policy of Natural Disasters Insurances Authority all of which usually are demanded for title deed transactions. People were only required to come to the directorates in order to sign their transactions.

Formal transcripts such as deed of real estate, mortgage document, samples of title records were obtained via web tapu application.

All details about the web tapu application

General Directorate of Land Registry and Cadastre posted the instructions for use and videos regarding how to use the web tapu on https://webtapu.tkgm.gov.tr/ They also gave details about how to make operations via web tapu on app’s main page. It is expected that this application will provide annual savings worth 100 million liras.

source: AA / translated by bazaar team

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