Registration Department evaluating the results of the scheme in Bangalore
A decision is yet to be taken to extend the option of anywhere registration of properties, launched here two years ago, to other parts of the State.
The scheme was launched after the Union Ministry of Rural Development proposed amendments to the Indian Registration Act.
“We are evaluating the results of the project in Bangalore and an opinion is yet to be formed,” a top official in the office of the Inspector General of Registration and Commissioner of Stamps, said.
The scheme, launched on a pilot basis in Gandhinagar registration district in July 2011, was later extended to other areas in Bangalore Urban district that has five registration districts comprising 43 sub-registrar offices. The new facility under Karnataka Valuation and e-Registration (Kaveri) gave buyers the option to register their properties in any sub-registrar’s office in the jurisdictional registration district.
“Certain issues continue to affect the proposal to expand it to other parts of the State,” another official said.
While the proposed amendment seeks to make registration of power of attorney for joint development agreements (JDA) mandatory to increase stamp duty collection, there are two types of stamp duties for JDAs in the State now.
“A one per cent stamp duty is imposed if the property owner and developer jointly sell the developed property. A 5 per cent stamp duty is imposed on JDAs if the developed property is sold independently by the owner and developers,” Syed Adoni Saleem, Inspector General of Registration and Commissioner of Stamps, said. The department had observed that JDAs were not being registered in many cases, he added.