Now there is no need to pay stamp duty on registration of family property in this state

Now it has become easier to transfer your property in the name of family members in UP. For this, you will have to pay only Rs. 5,000 as stamp duty. Stamp duty will not be charged from them on partition deed and settlement deed.

• Now there is no need to pay stamp duty on registration of family property in UP
• There will be no stamp duty on partition deed and settlement deed
• Only five thousand rupees will be spent for property registration

Several important decisions were taken in the UP government’s cabinet meeting held in Lok Bhawan on Tuesday. After the meeting, Finance Minister Suresh Khanna said that a total of 13 proposals were approved in the cabinet meeting, while 14 proposals were tabled. The biggest proposal passed was the exemption of stamp duty on property registration between family relatives. This step was taken to ease property disputes and also promote family harmony. Stamp duty will not be charged on partition deed and settlement deed.

Instead, only five thousand rupees will have to be spent…There are many people in the state who want to transfer their properties to their relatives or family members, but due to the rules, they were unable to raise enough money. So now they can do the deed by paying only the circle rate of the property. This rule will provide relief to thousands of such people of Uttar Pradesh.

Also Read: Now Aadhaar is required for this work too, the central govt has made a new rule

A basket of incentives for ultra mega companies

Meanwhile, Industrial Development Minister Nand Gopal Gupta Nandi, who was present in the meeting, said that in the meeting it was decided to open the box of incentives for ultra mega units investing in Uttar Pradesh. In the meeting it was decided that if a company invests more than 3000 crores at different places in the state and the company applies for incentives, it will be given the facilities of a customized package considering the investment as integrated. Under this, M/s Avaada Electro Private Limited will be given the benefit of a customized package.

The minister informed that M/s Avada Electro Private Limited will produce solar ingot-wafer, solar cell and solar module in a 5 Giga Watt integrated solar manufacturing unit in Uttar Pradesh. M/s Avada Electro Private Limited has been offered an investment of Rs 11,399 crore in the proposed project. 150 acres of land is required for the project. Out of this, 50 acres is available in Greater Noida (Gautam Buddha Nagar and Ghaziabad area) and 100 acres in Hathras (Western region).

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