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Gifting property? Uttar Pradesh relaxes stamp duty to a flat Rs 5,000

Dated on: Thursday 10th August 2023

As of August 3, the state government has introduced a new rule that sets a maximum stamp duty of Rs 5,000 for property gifting. Previously, the stamp duty rate was 5% for properties in the city and 7% for properties in other parts of the state. However, the new notification, issued by principal secretary Leena Johri, applies only to residential or agricultural properties gifted from one individual to another and does not include properties gifted by firms, companies, trusts, or institutions.

Additionally, if a person receives a property as a gift, the notification will not apply to them if they decide to gift the same property to someone else within a period of 5 years from the date of property registration.

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