UP Cabinet approves 1 per cent discount in stamp duty on property purchased in name of women

Lucknow, Jul 22 (PTI) The Uttar Pradesh Cabinet on Tuesday approved a one per cent discount in stamp duty on property worth up to Rs one crore if it is purchased in the name of a woman.

A decision in this regard was taken at a Cabinet meeting chaired by Uttar Pradesh Chief Minister Yogi Adityanath at Lok Bhavan in Lucknow, the UP government said in a statement, and added that a total of 37 proposals were passed in the meeting.

Till now, this exemption was applicable only on property up to Rs 10 lakh in the state, in which a maximum discount of Rs 10,000 was available. But now the government has increased this exemption to property up to Rs one crore.

Giving information about the decision, UP's Labour Minister Anil Rajbhar said that the government believes this decision will help middle class women become property owners, which will not only increase their confidence but they will also become financially more capable and respected in the society.

This exemption will also strengthen the Mission Shakti programme, under which women are being made self-reliant and empowered, he said.

In Budget 2024, the central government had also talked about reducing the stamp duty on deeds executed in favour of women. This decision of the Uttar Pradesh government is being considered as a step in the same direction. There is a possibility of a huge increase in the registration of property in the name of women, the statement said. PTI NAV MNK MNK