Lucknow : With the aim of creating an environment of peace and reducing the burden of property related family disputes, the Yogi government started a special Gift Deed Scheme which has benefited over 43,574 people from August 5, 2023 to September 12, 2023. The public got a benefit of Rs 1807.31 crore under this scheme.
Stamp duty reduced to Rs 5000
Ravindra Jaiswal, the Minister of State (Independent Charge) for Stamps and Court Fees and Registration said that there has been a significant change in the stamp duty associated with property donations to blood relatives in Uttar Pradesh. Under the new scheme, the stamp duty for such transactions has been reduced to Rs 5,000.
Before this scheme, individuals were required to pay stamp duty equivalent to the prevailing circle rate when executing a gift deed.
He mentioned that prior to this scheme, there were less property registrations.
Under this new policy, in Uttar Pradesh, on donation of immovable property to certain family members such as son, daughter, father, mother, husband, wife, daughter-in-law, real brother (or, in case real brother deceased , his wife), real sister, and son-in-law, a maximum stamp duty has been fixed at Rs 5,000.