Business News

Rent agreement in Noida: You can now sign it online; details here

In a big relief to tenants and landlords, the UP government has launched a web portal where people staying in rented houses in the city can sign agreements online with their landlords.

Initially, the portal has been launched for Gautam Budh Nagar only and it would be replicated for other districts as well in the future, TOI quoted the officials as saying.

“This step will ensure hassle-free provision of rental agreements for houses, shops in the district. For Gautam Budh Nagar, portal has been developed through which a copy of the lease deed can be availed after completing the procedure of paying the stamp duty,” a government statement said.

According to officials, users can log in to the “e-rent agreement” window of the portal with their names and phone numbers to avail the facility.

“The tenants will have to enter their names, numbers and other details in the online lease form. The process is quite simple,” an official told TOI.

The move would not only spare tenants and landlords the hassle of going through various departments to get the agreements signed, but also ensure they do not have to pay any commission to brokers. It would also ensure the administration has a proper database of tenants, said an official.

Elaborating further on the facility, Noida district magistrate Suhas LY said the new system would ensure more revenue for the government as well. “We have all the necessary approvals and only the Stockholding Corporation is awaiting an approval from the state government. The older manual system will continue to work parallelly,” the DM said.

As of now, around 1.5 lakh lease deeds are signed in the district in a year. For any lease deed where the monthly rent is over Rs 15,000, the government will receive Rs 3,600 as stamp duty. This, officials said, will ensure the government Rs 54 crore in revenue from GB Nagar alone.

“Once the system is implemented across the state, the government is expected to garner more revenue. The online system for issuing lease deeds will be implemented in other districts soon,” an official said.

The district magistrate said that currently, most people were not aware of the system through which stamp duty is paid in the absence of any proper guideline. “Through the online system, the stamp duty will be collected before the copy of the deed is issued,” he added.



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