Stamp paper to be history in Delhi soon

In a major reform initiative, Delhi government on Monday decided to completely do away with stamp paper of all denominations and shift to electronic -stamping facility, a moved aimed ensuring hassle-free transactions and prevent fraudulent practices.

Currently, e-stamping is applicable to values of Rs501and above but government has now decided abolish stamp papers of all denominations, which will mean people will have to pay stamp duty for sworn affidavits, agreement of tenancy, mortgage deeds, power of attorney and other instruments through e-stamping facility.

The decision to do away with stamp papers was taken at a cabinet meeting presided over by Chief Minister Sheila Dikshit.

"Delhi will become the first state to issue e-stamp papers in all denominations as the cabinet has decided to bring the non-judicial stamp papers of Rs500 denomination and below under the ambit of e-stamp mode," Dikshit said.

The government had introduced e-stamping on April 1, 2008, in the city mainly to ensure transparency in payment of registration fee in property transactions. The facility was first introduced post-Telgi scam as a measure to curb stamp paper-linked frauds.

The Delhi government had entered into an agreement with Stock Holding Corporation of India Ltd (SHCIL) to provide the service through its offices and authorised collection centres and Revenue department officials said the extended service will also be provided by the agency.