CM Yogi directs reduction in stamp duty for rent agreements.

Lucknow : Chief Minister Yogi Adityanath held an important meeting with the officials of the Stamp and Registration Department on Saturday, providing essential guidelines regarding the Online Registration Rules 2024.

He emphasized that an online system for stamps and registration is crucial for ease of living and better record and data management. Preparations should be made regarding this as soon as possible and a draft should be readied and presented. CM Yogi 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.

● The Chief Minister emphasized 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.

● The Chief Minister stated that in Phase-1 of e-registration, government agencies, including development and industrial development authorities should be given approval for sale deed, agreement and lease deed. 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.

● 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 on the basis of electronically transmitted data.

● The Chief Minister said that under e-filing, processing of bank files has already started in Phase-1, while in the second phase, rent agreements of up to 12 months, online stamping, e-signature and e-KYC verification of parties and witnesses should be ensured through Aadhaar.

● The Chief Minister highlighted that currently, physical presence at the registry office is mandatory for registration, which inconveniences citizens and consumes valuable time. With the introduction of e-registration, significant relief will be provided to citizens. It will eliminate the need for middlemen, saving both time and money for the people. Moreover, it will reduce legal and other associated issues. Additionally, the efficiency of offices is expected to improve as a result of these changes.

● The Chief Minister emphasized that registration records are highly sensitive and susceptible to tampering. He highlighted the importance of electronic records, which not only ensure safety but also facilitate easy verification.