UP govt simplifies property transfers with gift deed of commercial place for Rs 5000

New Delhi: The Uttar Pradesh government has made a major decision regarding property transfer. Now, gift deeds for commercial and industrial property between family members can be registered for a stamp duty of just Rs 5,000.

This facility was previously available only on residential and agricultural land, but now a proposal to extend it to commercial properties has been placed before the cabinet, and it was passed on Tuesday.

Also Read

6-year-old girl raped, murdered in UP’s Bulandshahr, accused shot in police encounter

CM Yogi slashes age barriers with 3-year relaxation to fill 32,679 posts in UP police

How is UP government planning to counter digital crime through technology-driven policing

Minister Ravindra Jaiswal stated that the Yogi government aims to simplify property transfers within families and reduce litigation. Previously, gift deeds for commercial properties were subject to a stamp duty of up to 7 per cent based on the circle rate. This means that if a property is worth Rs 1 crore, the stamp duty on it is Rs 7 lakh. Now, with this flat rate set at Rs 5,000, this will be a significant benefit to businessmen and entrepreneurs.

The Yogi government has introduced several reliefs on family property transfers in 2022. Later, in 2023, the stamp duty on gift deeds, partition deeds, and family settlements between blood relatives was fixed at Rs 5,000. In 2024-25, the same rule was applied to the division of ancestral property. This resolved disputes for millions of families. Now, the inclusion of commercial properties will further strengthen UP's real estate sector. Experts believe that this will stop illegal transfers, increase registration and also increase government revenue.

Add TV9 English As A Trusted Source

This benefit is available to blood relatives such as husband and wife, parents, son and daughter, brother and sister, son-in-law and daughter-in-law, etc. However, this exemption will not be available if the gifted property is re-gifted within five years. A copy of the family register or tehsil certificate will be required among the documents so that the claims can be verified.