{"id":7698,"date":"2022-11-17T13:59:11","date_gmt":"2022-11-17T13:59:11","guid":{"rendered":"https:\/\/signdesk.com\/in\/?p=7698"},"modified":"2026-06-22T00:21:47","modified_gmt":"2026-06-22T05:51:47","slug":"it-act-amendment-on-esign-real-estate-documents","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/it-act-amendment-on-esign-real-estate-documents","title":{"rendered":"Now eSign Real Estate Documents Online | Latest IT Act Amendment"},"content":{"rendered":"

\"eSign<\/h2>\n

Introduction<\/b><\/span><\/span><\/h2>\n

The Ministry of Electronics and Information Technology (MeitY) has released a notification stating an important amendment to the Information Technology Act, 2000. The First Schedule of the IT Act, which contains a list of documents or transactions to which the act does not apply, has been amended. The notification for the IT Act amendment was issued by MeitY, on September 26th, 2022.<\/p>\n

Several documents have been removed from the negative E-Sign list, including key real estate and property agreements. The exclusion of contracts for the sale or conveyance of immovable property from the First Schedule to the IT Act is substantial since it enables real estate transactions to now be executed electronically.<\/p>\n

The Latest IT Act Amendment – A Brief Overview<\/b><\/span><\/h2>\n

The Ministry of Electronics and Information Technology released a notification on the 26th of September 2022, stating amendments to the IT Act. As per the notification, various documents<\/span><\/span> that could not be executed via electronic means have now been excluded from the list.\u00a0<\/span><\/p>\n

Negotiable instruments governed by<\/strong> RBI\/ NHB\/ SEBI\/ IRDAI\/ PFRDA<\/strong>, Power of Attorney documents for businesses regulated by RBI\/ NHB\/ SEBI\/ IRDAI\/ PFRDA<\/strong>, as well as contracts for the sale or conveyance of immovable property or any interest in such property can now be enforced electronically after the IT Act amendment was officially issued.<\/p>\n

With eSign<\/a> <\/span><\/strong>now being extended to property agreements, the real estate sector can enable large-scale digital documentation.<\/p>\n

IT Act Amendment – Expanding Opportunities For Real Estate Document Digitization<\/b><\/span><\/h3>\n

The First Schedule of the IT Act has been revised to include the entries for many documents like NIs, PoAs, etc., to be signed using eSignatures. The amendment also includes immovable property-related contracts, which implies that a large number of real estate documents<\/a><\/span><\/strong> used very frequently can now be completely digitized & executed via eSignatures.\u00a0<\/span><\/p>\n

According to the IT Act amendment, this change is applicable to any agreement pertaining to the conveyance or sale of immovable property. Such documents include sale agreements, conveyance deeds, mortgages & several other property documents. It is now possible to execute these documents digitally using electronic signatures<\/strong><\/a><\/span>.<\/p>\n

This is a significant step towards broadening the scope of digitization in the country as the amendment paves the way for accelerating the process of digitization of documents and transactions that were previously exempt from the IT Act 2000.<\/p>\n

Which Property Documents Can Be eSigned Post the Amendment?\u00a0<\/b><\/span><\/h2>\n

Following this IT Act amendment, any contract that is created for the sale or conveyance of immovable property is now permitted to be eSigned<\/strong><\/a>.<\/span> Documents like property sale deeds, real estate conveyance agreements & property purchase agreements.<\/p>\n

These contracts are essential to any real estate sale or conveyance transaction, & the amendment simplifies carrying them out. These activities become more convenient as buyers & sellers can remotely sign the contracts using eSignatures & carry out the agreements more easily.<\/p>\n

The conveyance of immovable property involves mortgages, which conveys that contracts like Memorandum of Deposit of Title Deeds<\/span><\/a><\/span> can be digitized & executed using eSign. Additionally, sales deeds and agreements can also be eSigned.\u00a0<\/span><\/p>\n

The digitized versions of such real estate documents are equivalent to the physical variety & electronic signatures used to implement them are valid in courts of law.<\/p>\n