10,000 a day: Year-end rush for property registration
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There is an year-end surge in online registration of property documents with the the Inspector General of Registration and Commissioner of Stamps (IGR) office.
The the department has been processing nearly 10,000 applications a day since December 20, which also is sign of the upgraded I-Sarita software that enables customers to register online and get an 11-digit code for their document eliciting a good response. People would have to just quote this code at the IGR office to get the forms processed, saving time and effort, said IGR officials. On December 20, the office registered 9,736 registrations, which went up to 10,118 on December 21.
From December 24 to December 17 there were 9,500-10,000 registrations. "There is a huge rush at the end of the month which is a usual trend. The online registration facility is getting a good response,'' said IGR, Maharashtra, S Chockalingam.
The department has seen a good response all through the month with more than 5,000 registrations a day. With the major share being of flat registrations, the others include mortgages and open plots. Officials also mention that with a new stamp duty rate to come into effect in the new year, the rush to register at the old rate is a usual trend.
The bar code generated saves time and ensures the documents are protected, said Chockalingam. He added that of the 469 offices in the state targeted for the project, 410 are already connected, including 20 in Pune, to the I-Sarita.
"The customer can access it from the website. Once the 11-digit code is generated, they can use use it pull out the form from the registration office where their fingerprint and photo will be added. This reduces a whole lot of time,'' added Chockalingam. The official can verify the data and calculate stamp duty accordingly, he added.
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