UP Cabinet caps stamp duty on property partition deeds at ₹5,000

In a major relief for families, the UP Cabinet on September 2 approved a maximum of ₹5,000 for stamp duty and registration fees on property partition deeds

In a major relief for families, the Uttar Pradesh Cabinet on September 2 approved a maximum of ₹5,000 for stamp duty and registration fees on property partition deeds.

In a major relief for families, the Uttar Pradesh Cabinet on September 2 approved a maximum of ₹5,000 for stamp duty and registration fees on property partition deeds (Photo for representational purposes only) (Pixabay)

Previously, property partitions attracted 4% stamp duty and 1% registration fee on the property’s value, discouraging families from registering deeds and leading to disputes in civil and revenue courts, an official statement said.

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, PTI quoted the statement as saying.

"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.