Mutual Fund

Mumbai: Property registration to go completely cashless soon

Soon, people heading to the offices of the department of registration and stamps to register their property-related documents will not have to pay cash for their transactions. We are moving towards cash-less offices by introducing point of sale (POS) machines which are being integrated with our software for payment of document handling charges, a senior official from the department told, adding that the system is being tested and is likely to be launched around Diwali. The official said while people could *use the GRAS facility* to pay stamp duty and registration charges online, document handling charges, charged Rs 20 per page, were being collected in cash. Though we had allowed people to pay these fees through net-banking, the number of pages in a document may rise or decline when it is brought for registration. Hence, we have decided to introduce POS machines to enable the electronic payment of these charges in the sub-registrar offices, he explained, adding that the system would be functional in a month. The department plans to also introduce payments through e-wallets in the future. A total of 9.84 lakh documents had been registered between April and August 2018, compared to 9.08 lakh for the same period last year and 9.60 lakh in 2016-17. The revenue generation for the same period in this financial year stands at Rs 11,894 crore, compared to last year’s Rs 9,729 crore and Rs 8,347 crore for 2016-17.

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