Telangana Deputy CM launches e-STAMPS to ease property registrations
Say goodbye to long queues for registering your property as with the new website launched by the Telangana government, the stamp duty can be easily paid online at the time of registration. The initiative, titled e-STAMPS (e-Stamp duty in Telangana Assessment, Management and Payment System) has been launched earlier this week; by the Deputy Chief Minister Mohamood Ali in the secretariat.
This also reduces chances of corruption as the manual method that has been in use so far has been misused many times; with people registering the same property on different names a lot of times. With this initiative, the stamp duty, transfer duty, registration fee and any other miscellaneous fee can be paid at the designated banks; thus avoiding duplication.
After the launching of the website, Mohamood Ali said, “With this method, there will be no scope for any duplication process and the people can pay the money online at home or else they can visit the designated SBH banks across the state.”
Every year, the registration department registers nearly 10 lakh documents on an average and the department was the third highest earner during 2015-16 by collecting Rs 3,100 crore in the form of stamp duty and registration fee and around Rs 650 crore for local bodies in the form of transfer duty. The total revenue earned by this department was Rs 3,750 crore, with a growth of 24 percent over 2014-15.
By employing this method, the payment for the various fees can be done through various forms of online payments like net banking, debit card, credit card or IMPS on their official portal.
Even for those who are not comfortable paying online, the payment can easily be done through any of the 900+ branches of the State Bank of Hyderabad across the state.