Chief Minister Yogi Adityanath has given a great gift to women who buy property in Uttar Pradesh. In the stamp to be purchased for the registry of the property, it has been announced to give one percent discount to women in the state. According to PTI news, the Chief Minister on Friday directed the officials of the Stamp and Registration Department to provide one percent discount in the stamp duty to women for registration of assets up to Rs 1 crore.
Earlier only 10 lakh rupees were limit
According to the news, earlier in Uttar Pradesh, the limit of exemption in stamp duty for women was up to Rs 10 lakh property. According to an official statement, the Chief Minister also directed to impose a maximum fee of Rs 5,000 for division and registration of ancestral properties. He also emphasized on the same circle rates, necessary documents verification before registration and use of technology for simple procedure.
Instructions to make services digital
The statement said that the Chief Minister also directed the officials to improve the infrastructure of the registry office and make all public services digital. Stamp duty in Uttar Pradesh is a tax whose payment is compulsorily repaid while registering the property transactions. The stamp duty varies for every property transaction in Uttar Pradesh. However, the Uttar Pradesh government has provided huge relief on these fees in the case of property transactions among blood relatives. This has given relief to the people of Uttar Pradesh from heavy financial burden.
Stamp duty in UP varies depending on gender and deed type. It is necessary to pay stamp duty, as this will ensure that the transaction is legal. The market value or circle value of stamp duty property in UP ranges from 5% to 7% of whichever higher.
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