The overlapping factor has a vital role in determining the optimum bandwidth utilization and the desired side band suppression. In this paper, we review one of the filter bank multicarrier technique-staggered multi tone modulation, discuss its efficient implementation in polyphase form and compare between several performance parameters of the same. We also discuss the role of overlapping factor in staggered multi tone modulation systems. We describe a low complexity procedure for generation of the required overlapping factors based on frequency sampling method. Our simulations describe the effectiveness of the optimum value selection for overlapping factor in a staggered multi tone modulation system. The proposed system is theoretically found to be compatible with the Long Term Evolution standards. The performance evaluation of the proposed system in ideal conditions emphasizes about the reduction in spectrum leakage in sidebands of the staggered multi tone modulation system, along with a little increase in system complexity.