Property Register

Asset Information

All types of properties owned by or under the control of Local Self Government Institutions (LSGIs) are generally called 'Assets.'

Simply put, these are things that a panchayat or municipality owns and maintains for the public. They can mainly be categorized as follows:

1. Physical Assets

These are things you can see and touch:

Buildings: Office buildings, schools, hospitals (PHC), anganwadis, markets, community halls.

Land: Open lands belonging to the local body, parks, playgrounds, cremation grounds.

Roads: Panchayat/municipality roads, bridges, culverts.

Equipment: Vehicles (for example, garbage collection trucks), tractors, streetlights, computers.

2. Water Assets

Public wells, ponds, water tanks, irrigation canals, drinking water projects.

3. Financial Assets

  • Bank deposits, savings, shares.  
  • Receivables from taxes and fees.  
  • 4. Importance of Assets  
  • Income: Local institutions earn income by renting out markets, shopping complexes, etc.  
  • Service: They provide basic facilities to people through roads, schools, and such.  
  • Recording: Every local institution must accurately record all their assets in an 'Asset Register.' Only through this can assets be protected from misuse.  
  • In short, all the movable and immovable things handled by a local institution to improve the living standards of people in an area are its assets.