The Inspector General of Registration and Controller of Stamps (IGR) will launch e-registration process for Nanded projects by month-end. With the launch, the registration process would be simplified as there will be no role of agents between buyers and builders.
Senior officials from the IGR department said the process is under scrutiny. “We are testing the technical aspects of e-registration and it should be operational in two week’s time,’’ said an official.
The initiative was mooted to reduce the crowd at sub-registrar offices and Nanded city was selected as it has a huge volume of structures to be registered. “The department is also likely to seek the help of Confederation of Real Estate Developers Association of India (CREDAI) for obtaining names of builders registered with it. This will ensure a secure system,’’ added the official.
Under the process, the official said, a buyer will have to visit builder’s office to register his documents online. The buyer will be given a receipt in 20 minutes as is done at the IGRs sub-registrar’s office. The idea behind the move is to cut the involvement of sub-registrar’s office and completing the process at builder’s office itself.
As the entire process is technical, the IGR has taken certain measures for its successful implementation. The registration, to be done under the Information Technology Act, will require a buyer to fill up the details online. Digital signatures of the builder, buyer and the registrar will be taken and the registration receipt would be available online. “Enough safeguards have been put in place and the secured network will help in the process,’’ said the official.
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For the stamp duty and registration fees, the department has launched an electronic secured bank treasury system. Under the system, a buyer can log on to the website of an authorised bank, click on the link for payment of the stamp duty/registration fees, enter the necessary details and make the payment.