Property Transfer: Yogi government in Uttar Pradesh has taken a big decision in the matter of land transfer. For transferring property of blood related people, the government will have to pay only Rs 5000 as registration fee. This scheme has been passed in the Uttar Pradesh Assembly.
Property Transfer: If you live in Uttar Pradesh then there is great news for you. Yogi government has given a big gift to the people in the matter of property transfer (UP Property Transfer). Now if you transfer property to any of your blood relations then there is no need of huge amount. The government has reduced the registration fee to only Rs 5000. A rule in this matter has also been passed by the Legislative Assembly. The Indian Stamp (Uttar Pradesh Amendment) Bill 2024 has been passed with majority in the Uttar Pradesh Assembly. A provision has been made in this bill that property can be transferred between blood relations for only Rs 5000.
In the Assembly, Parliamentary Affairs Minister Suresh Khanna requested the House to pass the Indian Stamp (Uttar Pradesh Amendment) Bill 2024. With majority in favor, Assembly Speaker Satish Mahana announced its passing.
Government was being defrauded through power of attorney
Actually, power of attorney was being used in the case of buying and selling of lands. Due to this the government was facing huge loss in terms of revenue. The business of selling land worth crores of rupees at a nominal fee by making ‘Power of Attorney’ is going on in full swing. But now the government has given the facility to transfer property to blood related people. Whereas those outside blood relation will have to pay 7 percent stamp duty of circle rate on power of attorney. Earlier, the government had given relaxation for some time on transfer of property for blood relations. In which property could be transferred for Rs 5000.
Uttar Pradesh Lift and Escalator Bill
Apart from this, ‘Uttar Pradesh Lift and Escalator’ Bill, 2024 was also introduced in the Assembly. After the enactment of this law, registration will now be necessary for installing new lifts and escalators in multi-storey buildings in the state. Let us inform you that State Government’s Urban Development and Energy Minister Arvind Kumar Sharma had introduced the ‘Uttar Pradesh Lift and Escalator’ Bill, 2024 in the Assembly.
