Stamp Papers: Cash or DD or Middlemen

[Mohit Arora]

hi,

I thought of sharing my experience of collecting stamp papers from Treasury Office (Collectorate Office, Surajpur, Greater Noida) with everyone on the group.

As mentioned in the subject, there are 3 ways to get the stamp papers:

Cash : This would mean that you carry the amount to Treasury Office and get the stamps worth the cash you are carrying.

Pros: 

- You will save yourself an extra visit and should be able to procure them the same day.

Cons:

- Carrying too much cash is a hassle and has its own obvious security concerns.

- The govt officials sitting in Treasury Office are not too keen on taking cash. And if someone asks about bringing cash, they will tell you various sorts of limits (like 1L or 2L) above which you have to submit a DD. There are no written rules regarding this but would involve some persuasion before you are able to pay in cash. Clearly, they are more comfortable taking their own sweet time of which they will be deprived if cash is involved. And again, keeping lot of cash with them brings in the security angle again.

Demand Draft:

Pros:

- Easiest way when so much amount is involved

- You won't have to deal with the babu-giri of the officials sitting there. They are more than happy to accept drafts.

Cons:

- You will have to visit the Treasury Office again in order to collect the stamp papers.

- Getting drafts of such high value created incurs extra cost which varies from one bank to other. Some banks do it at no cost as well.

- If the draft is of SBI, you will be asked to come back after 3 days. For any other banks, the collection shall happen after 5 days. So do take this duration into account as well.

Middlemen:

Pros:

- If middleman is involved, you might be paying him cash and he should be able to bring you the Stamps on the very next day you ask him to bring the same. Plus your visit to treasury office is saved. So you save yourself some time. I won't say cost because of the next point (which can still be argued but lets not get into that).

Cons:

-  When Middlemen are involved, they may charge you anything ranging from 1% to 5% of the value of Stamp Papers. So even if he charges 1% for 3L, the cost is close to INR 3000.

So here is my view of this Stamp Collecting procedure, feel free to choose whatever fits you.

Thanks,

Mohit Arora

[Sanjay Gupta]

Hi,

Please advise what is E-Stamp Paper and i guess it is available in some designated banks.

correct me if am wrong...

Regards
Sanjay

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[Priti]

Fantastic points Mohit. Realities are well written, and everyone will get aware of realities.

Sent from my iPhone

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[abra...@gmail.com]

Appreciate your useful inputs and apprising the realities..

Thanks!!

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Subject: Re: Stamp Papers: Cash or DD or Middlemen

[Vikas Kapoor]

Mohit

Thanks a lot for this info. Really helpful. Can you pls inform the group of the location of treasury office with landmark . Thanx

Vikas Kapoor

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On 07-Mar-2013, at 15:36, Mohit Arora <moar...@gmail.com> wrote:

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[Mohit Arora]

@Sanjay: Regarding your question about E-stamp paper. 

As far as I know, the states have to first implement e-registrations to take use of e-stamps which, I don't think has happened in UP yet. I would still recommend calling up 3C (instead of any govt office) to confirm this.

Thanks, 

Mohit Arora

[Gaurav Syal]

Hi Mohit

I have a query regarding DD. As per HDFC bank clearance of DD can be done only at New Delhi. So, it cann't be made as payable @ Noida/Greater Noida.

Will there be any issue if its payable at New Delhi ? You also faced this issue ?

Regards

Gaurav

On Thu, Mar 7, 2013 at 3:36 PM, Mohit Arora <moar...@gmail.com> wrote:

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[Mohit Arora]

Thanks Praveen for the info. Have you visited the Treasury Office in last couple of days when you saw this notice?

Thanks,

Mohit Arora

On 8 March 2013 13:40, Praveen Jain <praveen...@hotmail.com> wrote:

 

Sorry, but you can't take all Stamp papers in cash because there is already a notice at Treasury Office; above Around 25K+ you have to submit DD for the same amount.

Please rethink if planning to visit with Cash.

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Subject: [lbnoida100]-Lotus Boulevard Stamp Papers: Cash or DD or Middlemen

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[Praveen Jain]

Sorry, but you can't take all Stamp papers in cash because there is already a notice at Treasury Office; above Around 25K+ you have to submit DD for the same amount.

Please rethink if planning to visit with Cash.

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Subject: [lbnoida100]-Lotus Boulevard Stamp Papers: Cash or DD or Middlemen

 

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[Mohit Arora]

@Gaurav Syal: This is strange. Because as far as I know, most of the drafts are payable at par in all locations these days. In order to pay to Treasury Office, the draft has to be payable at Greater Noida.

So I am not sure what does HDFC really mean when they say it can't be made payable at Noida/Greater Noida. Try to visit some branch and see if they are able to help you out.

Thanks,

Mohit Arora

[agupta...@gmail.com]

Hello Friends,

I'd like to check if stamp paper can be purchased on Saturday ?

Best Regards, Abhishek

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Subject: RE: [lbnoida100]-Lotus Boulevard Stamp Papers: Cash or DD or Middlemen

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[agupta...@gmail.com]

Hello Friends,

I'd like to check if stamp paper can be purchased on Saturday ?

Also can the DD be payable in Noida (instead of Greater Noida)?

Best Regards, Abhishek

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From: Mohit Arora <moar...@gmail.com>

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Subject: Re: Stamp Papers: Cash or DD or Middlemen

[Vishal Chaddha]

As far as I know they are open till 4 pm on Saturdays, but still would suggest you to call 3Cs or GN authority to check the timings.

[Vishal Chaddha]

I got the DD from ICICI and they gave the DD payable at Gr Noida. HDFC should not be different :(

[agupta...@gmail.com]

Hello Friends,

Can someone confirm if the demand draft can be payable at NOIDA instead of GREATER NOIDA? Though I'm sure that the clearing house is common for NCR, but I'm afraid sometimes these government departments want to follow things right till the dot and may insist on what's written exactly in the rule book.

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From: Vishal Chaddha <vishalc...@gmail.com>

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Subject: Re: Stamp Papers: Cash or DD or Middlemen

[Salil Taneja]

Hi,

Since Mohit mentioned Middleman option, so can I assume that presence of owner is not mandatory for purchasing stamp. I want to go and purchase stamp paper on my mother's behalf. Should that be OK ? Has anyone tried this ?

Thanks,

Salil

Regards,

Salil

[Vishal Chaddha]

Yes, it works

[Mohit Arora]

Yes, but make sure that you get the stamp papers in the name of the person in whose name Registry is going to be done.

Thanks,

Mohit Arora