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Lucknow: Eliminating the need to register the lease deed on stamp paper and have it signed manually by the tenant and the property owner, Gautam Buddh Nagar The e-fare settlement system is ready to be launched. Individuals wishing to engage in rental transactions will now only have to register on a portal, pay the relevant fee and get their lease deed registered within minutes.
Gautam Buddh Nagar district magistrate Suhas LY said the new system would not only simplify the process of leasing properties but also generate more income for the government. E-fare system to be launched Noida He said that in the next few days and in other districts in the coming days.
“We have all the necessary approvals and only stockholding corporation Approval from the state government is awaited. The old manual system will continue to work in parallel,” the DM said.
The new system eliminates the earlier process of going to a deed writer, registering the deed on stamp paper and ensuring the signatures of both the lessee and the lessee. The deed can now be registered within five minutes using a phone or computer and hence people sitting in two different cities and even countries would be allowed to sign the contract.
“This will be a comparatively more secure way of signing a contract. For Gautam Buddha Nagar, a portal www.gbnagar.nic.in has been developed through which the lease deed is completed after processing of payment. A copy of the stamp duty can be obtained,” said a government spokesperson.
Explaining how the system would work, the DM said that the tenant would only have to access the agreement portal set up by Uttar Pradesh Government for this purpose and enter the lease details by logging in through details like name and mobile number.
Once the fees and stamp duty are paid, copies of the contract will be available online. The whole process should not take more than five minutes, he said.
This system will help in generating additional revenue for the government. The spokesman said that at present around 1.5 lakh lease deeds are signed in Gautam Buddh Nagar every year. Due to this, the government gets about 1.5 crore rupees annually. Apart from this, the government also has to pay 2% stamp duty. The official said, “Therefore the government will receive around Rs 54 crore from the district through rent agreement and stamp duty. Since the fee will be calculated automatically on filling the details on the portal, there is no scope for any kind of theft. Is.” Told.
The DM further stated that at present, there is no clear guideline regarding the payment of stamp duty, and hence, most are not aware of the fact that stamp duty is to be paid, nor the system through which It is paid from
“By providing the online system, stamp duty will be collected just before the issuance of the copy of the deed.
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