e-SBTR-now make Maha Stamp Duty & Registration payment

e-SBTR (Electronic Secured Bank Treasury Receipt), a service for a single window payment of both stamp duty and registration fee for home purchase in Maharashtra, which was hitherto offered by IDBI Bank, Punjab National Bank, State Bank of India and others, will now be available with Union Bank of India also.

The e-SBTR allows payment without any ceiling and is available 24x7x365 through internet banking service. With this facility, a property buyer in Maharashtra can do all the necessary paper work and formalities online and get the endorsement on the final document at the branch level instantly.

The e-SBTR arrangement adds to the convenience of home buyers as the system eliminates the requirement of standing in queues to pay stamp duty and registration on property purchase.

“The system initially starts across 508 of our branches in Maharashtra and will soon be extended to other states as well,” said V K Kathuria, executive director, Union Bank of India.