In a major reform initiative, Delhi government Monday decided to completely do away with stamp paper of all denominations and shift to electronic-stamping facility, a move aimed at ensuring hassle-free transactions and prevent fraudulent practices.
To pay stamp duty, people will have to just visit a designated bank or sub registrar office where following payment they will be given a receipt having a unique identification number.
On an average, the city government collects revenue to the tune of Rs 200 crore monthly through e-stamping facilility.
Revenue department officials said government would save around Rs 10 crore annually on printing and transportation cost of stamp papers.
The stamp papers on receipt from security press at Nasik are kept and stored in Delhi Treasury. The papers are purchased by various licensed stamp vendors on day-to-day basis and on the basis of limit set on their license.
Currently, government earns around Rs 60 crore annually through sale non-judicial stamp papers.
The commission of 0.65 percent to SHCIL for the generation and issuance of e-stamp will be too less as compared to commission being paid to stamp vendors and expenses on account of printing and transportation, said the official.
Officials said government would soon issue a notification to abolish stamp paper in the city.