BHOPAL: Some important announcements pertaining to registration duties and process were made in the budget speech of the finance minister. After digitalisation of the process of registration of land and houses in urban areas, the government has decided to digitalise registration process of agricultural land too.
Electronic land records will be compiled in an e-registry. The minister said that this would mean that process of mutation will begin automatically as soon as e-document is registered and people will not have to make rounds of revenue courts.
Aadhar number will be mandatory for e-registration of sale and transfer deeds and the process will be made cashless. This will end possibility of forgery and make the process more transparent and simpler. Queue management system will be introduced in offices of deputy registrars to cut time in getting documents registered. The stamp duty on transfer of property to family members has been reduced from 2.5% of the market value or consideration for the property, whichever is higher, to 0.5 per cent.
