UP offers stamp duty relief to attract top universities

For the first MERU established in a district not currently having one, stamp duty exemption will be linked to the cost of land - 50% remission for land costing up to ₹50 cr, 30% for ₹50-150 cr and 20% for investments exceeding ₹150 cr

LUCKNOW The UP government has notified wide-ranging stamp duty exemptions for setting up multidisciplinary educational and research universities (MERUs), select foreign and top-ranked Indian universities under the Uttar Pradesh Higher Education Incentive Policy, 2024.

A 100% stamp duty exemption will be available if the first MERU is set up in an aspirational district, irrespective of land cost. (Pic for representation)

As per the notification issued by principal secretary (stamp and registration department) Amit Kumar Gupta on February 23, the state will provide stamp duty remission on land conveyance and lease deeds for eligible higher education institutions, effective from the date of publication in the official gazette.

For the first MERU established in a district not currently having one, stamp duty exemption will be linked to the cost of land - 50% remission for land costing up to ₹50 crore, 30% for ₹50-150 crore and 20% for investments exceeding ₹150 crore. Where land is allotted by UPSIDA or any other state agency, the actual allotment price will be treated as land cost.

A 100% stamp duty exemption will be available if the first MERU is set up in an aspirational district, irrespective of land cost. The same full exemption will apply to the first five eligible foreign higher education institutions (FHEIs) meeting UGC norms, as well as universities ranked in the top 50 of the latest NIRF rankings establishing a MERU in the state.