JOIN USChief Minister Siddaramaiah has announced to make transaction of properties easier, while effecting a slight increase in registration fee on certain sale agreements.
The Stamps and Registration department will introduce online slot booking for registration of documents. And the registration can be done in any of the sub-registrar offices in a registration district (a registration district comprise three or more sub-registrar offices). Anywhere registration (within the registration district) will be implemented across the State.
Though anywhere registration system was successfully implemented in Bengaluru Urban district three years ago, the department had not taken any step to extend it across the State.
Besides, the chief minister has announced to introduce online system for registration of agreements of sale, lease deeds and leave and licence agreements. For this suitable amendments to the Registration Act, 1908 will be brought in, he said.
A new software called “Sulabha Nondani” (easy registration) will soon be unveiled to enable people to download the formats of sale deed and transfer deed. Certified copies of registered documents and encumbrance certificates are made available to the parties through the software. A facility will be introduced for people to calculate stamp duty and registration fee and their online payment, he added.
Kaveri (Karnataka Valuation and e-Registration) software and bank softwares will be integrated to enable farmers to file agricultural loan mortgage deeds, discharge deeds and encumbrance certificate filed online without visiting the sub-registrar office.
New levy
Siddaramaiah announced levy of one per cent ad valorem registration fee on the amount or value of the purchase money in respect of agreement for sale subject to maximum of Rs 200. Currently, the maximum limit is Rs 20. It applies for those agreements that does not include possession of the property. Similarly, one per cent ad valorum registration fee on the agreements wherein the possession of property is delivered, but subject to maximum of Rs 500. Currently, the maximum limit is Rs 200.
It has also been proposed to bring in certain amendments to the Karnataka Stamp Act, 1957, to levy stamp duty on chit agreements (Rs 100 for above Rs 1 lakh value to Rs 500 for above Rs 2 lakh value). It will be made compulsory for banks and financial institutions for payment or collection of proper stamp duty on documents such as mortgage of title deeds, pawn or pledge.