Gautam Buddh Nagar is ready to introduce an e-rent agreement system. Persons wishing to engage in a rental transaction will now only need to register on a portal, pay relevant fees and have their lease deed registered within a matter of minutes.
Suhas LY, the district magistrate of Gautam Buddh Nagar, said that the new system would not only make the process of leasing properties simpler but also accrue more income for the government. The e-rent system would be launched in Noida in the next few days and other districts in the coming days, he added.
“We have all the necessary approvals and only the Stockholding Corporation is awaiting an approval from the state government. The older manual system will continue to work parallelly,” the DM said.
The new system does away with the earlier procedure of visiting a deed writer, registering the deed on stamp paper and ensuring signatures of both the lessee and lessor. The deed can now be registered within five minutes using a phone or computer and will therefore allow people sitting in two different cities and even countries to sign the contract.
“This will be a comparatively more secure way of signing a contract. For Gautam Buddha Nagar, a portal www.gbnagar.nic.in has been developed, through which, a copy of the lease deed can be availed after completing the procedure of paying the stamp duty,” a government spokesperson said.
Explaining how the system will work, the DM said that the tenant will only have to access the agreement portal set up by the Uttar Pradesh government for this purpose and enter the lease details by logging in through details like name and mobile number.
Once payment of fees and stamp duty is done, copies of the agreement will be available online. The entire process, he said, should not take more than five minutes.
The system will help in generating additional revenue for the government. At present, the spokesperson said, around 1.5 lakh lease deeds are signed each year in Gautam Buddh Nagar. This generates about Rs 1.5 crore annually for the government. In addition to this, a 2% stamp duty is also to be paid to the government. “The government will, therefore, receive roughly Rs 54 crore from the district through rent agreements and stamp duty. Since duty will be calculated automatically when one is filling details on the portal, there is no scope for any kind of evasion,” the official said.
The DM further explained that currently, there is no clear guideline on how to pay the stamp duty, and therefore, most are not aware of the fact that stamp duty has to be paid, nor the system through which it is paid.
“By providing an online system, the stamp duty will be collected immediately before the copy of the deed is issued,” he said.
