Once you know the amount, walk into the nearest bank branch and deposit the amount in cash or cheque or a demand draft in favour of SHCIL. Supreme Court lawyer Sunder Khatri says, “E-stamping, as it is called, has replaced the old method of submitting stamp duty through buying stamp papers."Īll you need to know is the amount of stamp duty applicable on your property. You just deal with the lawyers at the time of registering the sale deed and pay him according to the size of the deal. Now there are no stamp papers involved, which means there is no interface with brokers. The prevailing system of physical stamp paper is being replaced by the e-stamping system," says the SHCIL website. “E-stamping is a computer based application and a secured electronic way of stamping documents. of India Ltd (SHCIL) to act as a central record-keeping agency to facilitate e-stamping through its various branches and banks across the country. However, the ministry of finance’s department of economic affairs has made the task easier by giving the process into professional hands. Fake stamp papers worth around Rs30,000 crore had been sold across seven states, including Maharashtra, Uttar Pradesh and Andhra Pradesh. The Telgi scam, which rocked the nation between 19, is a case in point. Cases of cheating, overcharging and fraud were rampant. Since the procedure involved a lot of paperwork in terms of buying physical non-judicial stamp papers, signing each of the sheets, people relied on brokers and agents to get the work done. While things used to get done even earlier, there were no standards that people could look at. Registration of property reduces the chances of fraud on property title." Second, this helps in keeping property records. First, the government recovers revenue by collecting stamp duty. Says senior Supreme Court lawyer Arun Mohan, “Stamp duty has two purposes. So he got his broker to pay the stamp duty on his behalf and hired a lawyer to take the registering process further.įiling of stamp duty and, subsequently, registering the sale deed is a must for anyone who takes possession of a house. Initially, Singh, too, tried to do it on his own but he realized very soon that it was not possible for him to spare so much time and energy. To avoid all this, typically, people go through brokers and hire lawyers at the time of registering to get it over in a day or two. If you get into the process of paying the stamp duty in person, which involves buying a stamp paper from the court and standing in long queues, you may have to keep coming back, perhaps for a month or so, to complete the process.
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