The state legislative council on Friday passed amendments to the Indian Registration Act, 1908, a move that will permit online registrations. The amendments will now be sent to the Centre as the Indian Registration Act is a central Act. It will take about six months to get a nod from the Centre.

    Speaking in the council, minister of state for revenue, Prakash Solanke, said the amendments will permit people to do online registrations. Under the proposed system, a property buyer can scan documents at home and send it to the sub-registrar who will evaluate the property and decide the stamp duty

and registration fees. This will be conveyed to the person who has sent the documents. After deducting the stamp and registration charges, an e-receipt will be sent.

    Solanke also said people can also get their property registered in any stamps and registration office. "A person sitting in Mumbai can do a Pune property registration at a Mumbai office," Solanke said.

    The minister also said that there was a plan to start 60 new stamps and registration offices in Mumbai, Thane and Pune, which account for nearly 80% of the stamp department's revenue.

    The government will also vest banks with the power to register leave and licence agreements. Solanke said that nationalised and cooperative banks will be appointed for this purpose. There is a standard fee for registering such agreements and this will reduce the burden on the stamp and registration staff, he said.

    To cater to more persons and reduce the pending registrations, the stamp duty offices will work in two shifts--7 am to 2 pm and 2 pm to 7 pm. Solanke said there will be compulsory registration of the general power of attorney and deposit of title deed.

HOW IT WILL WORK
    A property buyer can scan documents at home and send it to the sub-registrar who will evaluate the property and decide the stamp duty and registration fees

    After deducting the stamp and registration charges from the bank account that the buyer has to provide the sub-registrar, an e-receipt will be sent
SOURCE : THE TIMES OF INDIA, MUMBAI / SATURDAY, JULY 24, 2010