Overview
- The cabinet expanded a concessional regime previously limited to agricultural and residential assets to now include commercial and industrial properties gifted within families.
- Stamp duty on such gift deeds is capped at ₹5,000 regardless of market value or location, and a 1% registration fee remains payable.
- The revised provisions take effect immediately upon publication of the notification in the official gazette.
- Officials noted that commercial properties earlier attracted 7% duty in urban areas and 5% in rural areas before the concessional cap.
- The cabinet also clarified who qualifies as a family member for these transfers and approved free land allotments for new sub-registrar offices in Kushinagar and Jhansi.