E-Paper
UP caps stamp duty, registration fees on family property division
Until now, property partitions attracted 4% stamp duty and 1% registration fee on the property’s value, discouraging families from registering deeds and fuelling disputes in civil and revenue courts
LUCKNOW The UP cabinet on Tuesday approved a proposal that provides for bringing down expenditure on the documents for division of property (partition deeds) to only ₹10,000 now.This includes a stamp duty of only ₹5,000 and additional ₹5,000 for registration fee.
Until now, property partitions attracted 4% stamp duty and 1% registration fee on the property’s value, discouraging families from registering deeds and fuelling disputes in civil and revenue courts, according to an official statement. The new provision is expected to reduce litigation, facilitate amicable settlements, update land and revenue records and make properties more easily available in the market, it added.
Chief minister Yogi Adityanath presided over the meeting of the state cabinet that approved the proposal.
A large number of such disputes are pending in civil and revenue courts in the state.
“While the change may initially cause an estimated revenue loss of ₹5.58 crore in stamp duty and ₹80.67 lakh in registration fees, the government expects that higher registration volumes will offset the loss and boost revenue over time,” the statement read.
Land for CRC
The cabinet also approved a proposal to transfer free of cost 3-acre land in Ramnagar area of Varanasi to the department of empowerment of persons with disabilities (union minister of social justice and empowerment) for setting up of Composite Regional Centre for Skill Development, Rehabilitation and Empowerment of Persons with Disabilities (CRC) in Varanasi. Lucknow and Gorakhpur have such CRCs in Uttar Pradesh.
