The Uttar Pradesh Cabinet, led by Chief Minister Yogi Adityanath, has granted a significant reduction in stamp duty for gift deeds involving commercial and industrial properties transferred within families. The maximum stamp duty for such gifts is now set at Rs 5,000, regardless of the property’s value or location in urban or rural areas. Previously, this concession only applied to agricultural and residential properties.
The recent decision extends this benefit to commercial and industrial assets like shops and factories. Earlier, transferring property within the family incurred full stamp duty based on circle rates, which could be as high as seven percent in cities and five percent in rural areas. The fixed cap introduced in 2022 for residential and agricultural land has now been expanded to cover all types of immovable property.
State Stamp and Registration Minister Ravindra Jaiswal highlighted that this move simplifies family property transfers, reduces costs, and enhances transparency. The Cabinet has also clarified the definition of relatives and related provisions to ensure smooth implementation. This relief is effective immediately upon publication in the official gazette, aiming to promote legal transfers and minimize family disputes over property.
In a related development, the state Cabinet has approved land allocations for constructing new sub-registrar office buildings. In Kushinagar, 0.0920 hectares from the Tehsil complex in Kaptanganj will be provided at no cost to replace a deteriorating structure. Similarly, in Jhansi, 0.0638 hectares from the old Tehsil complex have been earmarked for a new office and archives. As these plots are government-owned, they are fully exempt from stamp duty and registration fees. These initiatives reflect the government’s ongoing efforts to streamline registration processes and alleviate financial burdens on citizens.
