Stamp Duty Waived On Property Transfer In Blood Relations In UP

Stamp Duty Waived On Property Transfer In Blood Relations In UP

Lucknow, June 15 (TNA) In a big move that is set to benefit hundreds and thousands in the coming years, the Uttar Pradesh government has waived off the stamp duty if property is transferred within blood relations.

With this decision properties running into lakhs and crores of rupees will be transferred to the blood relation with paying of just Rs 5,000 as transfer fees and another Rs 1000 as processing fee.

Till now, five to seven percent stamp duty had to be paid on the property valuation. In this category, the government will include father, mother, husband-wife, son, daughter, son-in-law, son-in-law, real brother, real sister, son and daughter's son and daughter. Till now they also had to pay the government registration fee.

For example, if there is a property of Rs 50 lakhs according to the DM circle rate, then at least Rs 4.20 lakhs had to be spent for that. Now this work will be done for five thousand rupees.

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