K'taka to start e-stamping on March 14

Property transactions and collection of stamp duty in Bangalore will gain a new dimension with the launch of the e-stamping project on March 14.

The project is aimed to checking stamp duty frauds and ensure transparency in registration of properties "" thereby plugging leakages in the revenue flow to the government.

"E-stamping is a web-based application for paying stamp duty to the government. In simple terms, it means electronic purchase of stamp paper and electronic mode of stamp duty payment," said H Shashidhar, inspector general of stamps and registration. The e-stamping project, which will start on a pilot basis in eight centres across the city, seeks to replace the present system of franking of stamp papers.

According to the e-stamping system, a person who wants to obtain a stamp paper has to walk into designated centre, fill up a form and submit it along with the payment across the counter to generate an e-stamping certificate. Once the details of the person are verified, entries are keyed into the e-stamping system to print the certificate. There will be an unique identification number on each certificate. Simultaneously, a 20-digit alpha numeric certificate number will be generated by the system to each stamp certificate. After obtaining the certificate, the person can approach the sub-registrar to get the document registered. Only after the sub-registrar locks the certificate does the registration become complete.

"Information security is the top priority of the system. The e-stamping system is armed with state-of-the-art security features which have been rigorously tested and approved by the Union government. E-stamping system is not restricted to any fixed denomination and is designed to print out stamps certificates of any denomination starting from rupee one," Shashidhar said.

The facility also provides for payment of additional stamp duty without cancelling the existing certificate.

The e-stamping project, which was mooted by the Centre after the multi-crore fake stamp paper racket was unearthed, received a green signal from the state executive committee headed by Governor Rameshwar Thakur in January this year.

It will be implemented by Stock Holding Corporation of India Limited (SHCIL), the authorised central record keeping agency (CRA) which will be responsible for user registration and maintenance.

The e-stamping centres will be located in Koramangala, Jayanagar, J C Road, Malleswaram, Jayanagar sub-registrar office, Gandhinagar, Indiranagar, Jayanagar and city civil court complex.

SHCIL, which plans to extend the project to other parts of the state in a phased manner, plans to rope in banks and post offices to carry out e-stamping perations.