Uttar Pradesh cabinet approves 1% discount in stamp duty on property purchased in name of women
: The
Uttar Pradesh
Cabinet on Tuesday approved a one per cent discount in stamp duty on property worth up to Rs one crore if it is purchased in the name of a woman.
A decision in this regard was taken at a Cabinet meeting chaired by Uttar Pradesh Chief Minister
Yogi Adityanath
at Lok Bhavan in Lucknow, the UP government said in a statement, and added that a total of 37 proposals were passed in the meeting.
Till now, this exemption was applicable only on property up to Rs 10 lakh in the state, in which a maximum discount of Rs 10,000 was available. But now the government has increased this exemption to property up to Rs one crore.
Giving information about the decision, UP's Labour Minister
Anil Rajbhar
said that the government believes this decision will help middle class women become property owners, which will not only increase their confidence but they will also become financially more capable and respected in the society.
This exemption will also strengthen the Mission Shakti programme, under which women are being made self-reliant and empowered, he said.
In Budget 2024, the central government had also talked about reducing the stamp duty on deeds executed in favour of women. This decision of the Uttar Pradesh government is being considered as a step in the same direction.
There is a possibility of a huge increase in the registration of property in the name of women, the statement said.
The UP Cabinet also approved the proposal to give 10 hectares of land free of cost on an annual lease rent of Re one in favour of IR Detection Technology Centre proposed by IRDE (Instruments Research and Development Establishment), DRDO.
This centre will be set up in the Lucknow node of Uttar Pradesh Defense Industrial Corridor. Under this project, about 150 engineers and technical personnel are likely to get direct employment and more than 500 people are likely to get indirect employment.
IRDE, Dehradun is a constituent laboratory of the Defence Research and Development Organisation (DRDO). This institute is starting a new project to establish an indigenous fab-line for the development and manufacture of IR detectors. This project proposes to set up a semiconductor IR detector manufacturing facility. This will put India in the category of leading countries, the Uttar Pradesh government said in the statement.
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