e-stamping for Chennai soon

September 5, 2009

No more stamp paper. Now an electronic certificate will be stamped with the security features on the document.

The e-stamp initiative is all set to be launched in Chennai. Tamil Nadu Minister for Registration and Tourism N. Suresh Rajan recently inspected the facilities for e-stamping in various parts of the city. To begin with, it would be introduced at nine sub-registrar’s offices — T. Nagar, Triplicane, Mylapore, Royapuram , Chennai South Joint I, Chennai South Joint II, Chennai Central Joint I, Chennai Central Joint II and Chennai North Joint I — in the corpor ation limits .

At present, those who require property registration have to buy stamp papers of the required face value, write the details of the property and transaction and then proceed for registration. The official concerned would then verify the stamp duty paid and register the document.

In the electronic stamping of documents, the customers after documenting their property details and the consideration will have to pay the necessary stamp value and registration charges. The payment has to be done in the e-stamping counter either by the conventional mode of payment by cash or demand draft or electronic transfer. Once the payment is done, the document will be e-stamped and a token will be issued. On production of the token, the documents will be registered in a separate counter. An electronic certificate will be stamped with the security features on the face of a paper. The procedure to be launched shortly will have several security features to control the circulation of fake stamp papers and to prevent forged registration. A unique certificate number of ten digits will be given to each document and will be issued in 3 to 5 minutes depending on the speed of the system.

This number will be integrated with the official records. There is provision for verification at any point of time. It will be difficult to duplicate the number as the duplicate copy would display the words ‘copy.’ Each electronic certificate will have an identification number and a two-dimensional bar-coding to each registered document along with an optical water mark with official insignia makes sure the document is authentic.

The integrated system is capable of locking documents to avert their misuse.

Employees of the Stock Holding Corporation of India Ltd would be in charge of the e-stamping in the centres. The corporation has introduced a foolproof mechanism that would ensure the documents are not altered. The corporation is the agency authorised by the Centre and state governments to implement e-stamping. “Electronic stamping is an easy, safe and secure web-based mode of payment of stamp duty,” says an official of the Registration Department. The service level agreement between the stock holding Corporation of India Ltd and the Registration Department of Tamil Nadu was signed on May 28. The round-the-clock purchase of stamp paper electronically ensures online verification of stamp duty on the internet. This also ensures fast payments to the government accounts.

The electronic stamping system can be operated by any user with basic facilities such as a personal computer, specified printer and internet access. “The system eliminated stamp papers, stops revenue leakage and easily verifies the stamp duty paid. It is transparent, secure and simplified administration of stamp duty payment,” says an official with the Registration Department. Tamil Nadu would be the sixth state after Delhi, Karnataka, Gujarat, Maharashtra and Assam to have to e-stamping as an option for property transactions.

[Source: The Hindu]