Monday, July 22, 2024

UP CM for reduction in stamp fee on rent agreements


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Lucknow, June 23: Uttar Pradesh Chief Minister Yogi Adityanath has said that an online system for stamps and registration is crucial for ease of living and better record and data management.

He directed that preparations should be made regarding this as soon as possible and a draft should be readied and presented.

According to an official statement, the Chief Minister also directed the reduction of the stamp registration fee for rent agreements of residential, non-residential, and commercial properties.

He suggested creating different brackets for this and simplifying the agreement process.

He emphasised that the entire system of codification, e-registration, and e-filing under the Online Registration Rules 2024 should be transparent.

E-registration should be carried out through government agencies and RERA-approved builders.

Additionally, the work of e-filing should be done through bank file 6 (1), rent agreements of up to 12 months, and any documents under Sections 18 and 89 of the Registration Act 1908.

Chief Minister Adityanath said that in Phase 1 of e-registration, government agencies, including development and industrial development authorities, should approve sale deeds, agreements and lease deeds.

“Presentations and approvals should be managed by the nodal officers of these government agencies. Additionally, the photos and signatures of the parties involved should be captured digitally or electronically. The Registrar Officer will complete the registration based on the electronically transmitted data from the above process,” he added.

The Chief Minister said that in Phase 2 of e-registration, it should be extended to RERA-approved institutions for sale deeds, agreements and lease deeds.

“The photos and signatures of the parties involved should be captured digitally or electronically. Under the process, registration should be done by the registration officer based on electronically transmitted data,” he added.

Yogi Adityanath highlighted that currently, physical presence at the registry office is mandatory for registration, which inconveniences citizens and consumes valuable time.–IANS


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