Stamp Duty Fees: Now only this much stamp duty will be charged on property division, big decision of the government

Stamp Duty in UP: Before this decision, 4% stamp duty and 1% registration fee was charged on the division of property in UP. Due to this hefty fee, many families did not get their property legally divided, which increased the number of cases in civil and revenue courts.

Stamp Duty: The Uttar Pradesh Cabinet has taken a big decision giving great relief to the families of the state. The cabinet has approved the proposal to limit the stamp duty and registration fee for property division in the state to a maximum of ₹ 5,000. This decision will help in reducing property disputes between families. Along with this, the expenses incurred in property division will also be reduced.

What was the old rule?

Before this decision, 4% stamp duty and 1% registration fee of the total value of the property was charged on its division in UP. Due to this heavy fee, many families did not get their property legally divided, due to which the number of cases in civil and revenue courts increased and the cases remained pending for years.

What will be the benefit to the government and the general public

This new provision will help in reducing the number of cases, resolving disputes by mutual consent and updating government revenue records. Also, clean properties will be easily available in the market without any legal hassles. The government estimates that in the initial phase, there may be a revenue loss of ₹ 5.58 crore in stamp duty and ₹ 80.67 lakh in registration fees. However, the government hopes that more and more people will register the division of their properties, which will cover this loss in the future and will also increase the revenue.

Let us tell you that similar rules are applicable in states like Tamil Nadu, Karnataka, Rajasthan and Madhya Pradesh, and its good results have been seen there. This is the reason why now the Uttar Pradesh government has also approved this decision.

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