Lucknow, Sep 2 (PTI) In a major relief for families, the Uttar Pradesh Cabinet on Tuesday approved a cap of Rs 5,000 on stamp duty and registration fees for partition deeds in property division.
Until now,
property partitions attracted 4 per cent stamp duty and 1 per cent registration fee on the property's value, discouraging families from registering deeds and fueling disputes in civil and revenue courts, according to an official statement.
The new provision is expected to reduce litigation, facilitate amicable settlements, update land and revenue records and make properties more easily available in the market, it added.
"While the change may initially cause an estimated revenue loss of Rs 5.58 crore in stamp duty and Rs 80.67 lakh in registration fees, the government expects that higher registration volumes will offset the loss and boost revenue over time," the statement read.
"Similar systems in Tamil Nadu, Karnataka, Rajasthan and Madhya Pradesh have already shown positive outcomes, giving confidence that the move will strengthen both legal certainty and family harmony in Uttar Pradesh," it added. PTI KIS RT
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