Skip to main content

E-Stamping of properties - a sure way of avoiding corruption and bribery in Bengaluru

Finally I found some time to write about the new E-Stamping technique that has been introduced on a pilot basis in Bengaluru for preparing legal agreements for sale and rental of properties and many other instruments. The entire article detailing this is available here.

So one would like to know what exactly is the difference between the old method and the new method of stampings. And why in the first place is the stamp paper required itself. For starters, the stamp paper is a document that is franked with the government seal on the top of the page, which in essence signifies the legality of a certain instrumental transaction like for eg., that involving a sale or agreement etc. This used to be supplied by the government to the registrar’s offices and some stipulated banks like State Bank of Mysore used to sell it to customers. This was until a few days back. Now no more do these banks stock these bond papers as they are called. And you may not even get it in the registrar’s offices anymore.

Firstly one has to understand that the government of Karnataka has now shifted over to the e-stamping mechanism which in essence means that these franked papers are no more used from now on. Earlier there were many touts who used to procure these bond papers and make a killing by selling them at a premium to customers. This led to mega scams like the Telgi stamp paper scam, more about which you can read here and understand. This scam alone led to a 30000 crore rupee loss to the government of Karnataka which is much more than any politician even could amass in terms of ill gotten wealth.

The government of Karnataka finally woke up and has ushered in an e-stamping mechanism now whereby a company by name Stock Holding Corporation of India Limited are the official vendors of E-stamps from now on. This essentially means that you go to them now, put in all details of why you need an e-franked bond paper, give your address details, contact details, PAN numbers, property details, rental / sale details, and sale/rental value details etc. There are a multitude of things for which this mechanism can be used from now on. To know more about this company and the things you can use their services for, click here and to get the list of things you can use the estamps, click here.

Old and new Stamp paper formats - an illustration

The best thing about this approach is that SHCIL as a company will take care of taking money from you for the bond papers and stamps related instruments, and directly remit it to the government and they will create a unique franking with a unique ID generated for each transaction which is accountable at any time and can be traced to the participating parties always with the PAN numbers. And hopefully the Telgis of the new era might have to come up with something more sophisticated than this to cheat the government. So before I end this post, I am proud to say I used this method and feel more happy, satisfied and confident that my money is legitimately going to the government instead of to a tout.

The directions to the office of SHCIL I went to is in Koramangala is given in a map here for reference sake. They work between 10am and 5pm only between Monday and Friday and are closed for the two weekend days.

Technorati Tags: , , , , , , , , , , , , , , , , , , , , , ,


Popular posts from this blog

Car Rentals in Kuala Lumpur - SoCar vs GoCar

IntroductionAs I was headed to Malaysia for a trip for 10 days, I needed an option to commute within the country. While renting cabs with drivers was definitely an option, there was no privacy enough, and there was no way to make my own decisions on where I wished to go when. I was not so keen to rent a cab outside of KL city.We had plans to visit multiple places such as Cameron, Penang, Langkawi so I needed a vehicle which I was willing to drive myself. It was the best option as it would give me the convenience without burning a hole in my pocket. The trip itself was turning out to be expensive and I wanted a good option for inside the country travel.Things that I was looking forAs any first time car rental customer, I had some concerns, so I needed theseEasy rental mechanism, including driver sign up and validation of
licensePreferably use local Karnataka (state license from india) - without the need for IDPApp based car handlingEasy fuelingEasy breakdown service if needed anywhere …

How to cover Malaysia in 10 days - full details on a self planned trip

Some history Ever since 2016 my wife and I decided that we want to do one international trip (though not necessarily one country) every year. We made it to Singapore in 2016, and Dubai in 2017. It was time to explore and take my family to Malaysia this time around in 2018.

The fact that I was working in Malaysia in 2002 and could not get time in the short one year that I stayed there to see many places only meant the urge to go there was pretty strong in order that I could get another chance to cover all the places I did not see this time around.

Also 15 years down the line with a lot of instrastructure and convenience improvements happening around the world, surely the trip would seemingly put me at more ease than earlier on. So it was time to decide how to plan the trip.

My logic for planning trips I usually do my own booking and planning for everything for my trip. I look through places to visit, I look through multiple sources of reviews, I look through the best times to travel t…

Veg Biriyani Recipe

IngredientsOne Potato - dices into small cube sized pieces and soak in waterBeans - about 10 of them chopped into medium pieces, soak in waterCarrot - about 2 of them chopped into medium pieces, and soak in waterOnions - big ones, 2 of them sliced thin and longGreen peas - a handfulMint and Coriander leaves - one medium sized bowlGhee - 2 to 3 teaspoonsCurd - 4 tea spoonsGroundnut oil - 4 to 6 teaspoons for the onions to caramelize (same can be later used for vegetables to be cooked), 4 teaspoons for the spices to be cooked along with riceBasmati rice - One cup upto brim (standard cup measure)Multi spices pack - 2 packs (contains cloves, elaichi, cinnamon, star anise)Bay leaves - 3-4 for vegetables, 2-3 for riceShahi jeera - for vegetables (2-3 teaspoons)Turmeric powder, chilli powder, garam masala, biriyani masala, salt, cumin powderGinger garlic paste - 2-3 teaspoonsMethi leaves - half a handfulChillies to taste (I used one long chilli, you can desire to add 2) - diced into medium p…