CM orders reduction of stamp registration fees for rent agreements

| | Lucknow
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CM orders reduction of stamp registration fees for rent agreements

Sunday, 23 June 2024 | PNS | Lucknow

Chief Minister Yogi Adityanath convened a critical meeting with officials from the Stamps and Registration department on Saturday and ordered reduction of stamp registration fees for rent agreements.

The chief minister underscored the importance of an online system for stamps and registration, emphasising its role in enhancing ease of living and improving data management. He instructed officials to expedite preparations and present a draft of the proposed system.

Additionally, Chief Minister Yogi directed the reduction of stamp registration fees for rent agreements across residential, non-residential and commercial properties, proposing the creation of simplified fee brackets.

The chief minister stressed that the entire codification, e-registration and e-filing process should be transparent. E-registration should be through government agencies and Real Estate Regulatory Authority-approved builders. E-filing should encompass bank file 6(1), rent agreements of up to 12 months, and documents under sections 18 and 89 of the Registration Act, 1908.

In the first phase, government agencies, including development and industrial authorities, should be approved for sale deeds, agreements and lease deeds. Presentations and approvals should be managed by nodal officers, with digital or electronic capture of photos and signatures. Registration officers will finalise registrations based on electronically transmitted data.

The second phase will extend e-registration to RERA-approved institutions for sale deeds, agreements and lease deeds. Digital or electronic capture of photos and signatures will be required, with registration officers processing electronically transmitted data.

Phase-1 has already seen the start of bank file processing. The second phase will include rent agreements of up to 12 months, online stamping, e-signature and e-KYC (know your customer) verification through Aadhaar.

The chief minister highlighted the inconvenience and time consumption caused by mandatory physical presence at registry offices. E-registration will provide significant relief by eliminating middlemen, saving time and money, and reducing legal issues. This move is expected to enhance office efficiency.

Emphasising the sensitivity and susceptibility of registration records to tampering, the chief minister pointed out the benefits of electronic records. These records ensure safety and facilitate easy verification, he pointed out.

The meeting marks a significant step towards modernising the registration process in Uttar Pradesh, promising enhanced transparency, efficiency and convenience for citizens.

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