Chief Minister Yogi Adityanath has given a wonderful gift to women who buy property in Uttar Pradesh. It has been announced that women in the state will be given a discount of one percent on the stamp duty purchased for property registration.
According to PTI news, last Friday, the Chief Minister directed the officials of the Stamp and Registration Department to provide one percent discount in stamp duty to women for registration of property up to one crore rupees.
Earlier the limit was only Rs 10 lakh
According to the news, earlier the limit of stamp duty exemption for women in Uttar Pradesh was up to Rs 10 lakh for property. According to an official statement, the Chief Minister also directed to charge a maximum fee of Rs 5,000 for division and registration of ancestral properties. He also emphasized on uniform circle rates, mandatory document verification before registration and use of technology for a simple process.
Instructions to make services digital
The statement said that the Chief Minister also directed the officials to improve the infrastructure of the registry office and make all public services digital. Stamp duty in Uttar Pradesh is a tax which is mandatory to be paid while registering a property transaction. Stamp duty is different for every property transaction in Uttar Pradesh. However, the Uttar Pradesh government has provided major relief on these charges in case of property transactions between blood relatives. This has relieved the people of Uttar Pradesh from a huge financial burden.
Stamp duty in UP varies depending on gender and deed type. It is important to pay stamp duty as it will ensure that the transaction is legal. Stamp duty in UP ranges from 5% to 7% of the market value or circle value of the property, whichever is higher.
