Delhi

Punjab govt amends rule to check misuse of stamp duty rebate

 

The state government of Punjab has brought about changes in its rules to prevent the misuse of stamp duty rebate available to women on property registration, a state minister said today. The government launched the scheme to empower women by giving them a two per cent rebate on the acquisition of property in their name. The decision to amend the rule was taken by the Punjab Revenue Department. 

 

The scheme is, however, unfortunately being misused by unscrupulous persons who register the property in a woman's name to avail the rebate and later, transfer the ownership to a male relative, Revenue Minister Sukhbinder Singh Sarkaria said here.  

 

Post amendment, if the property acquired by a woman is transferred in the name of a male relative within a year, the government will take back the two per cent rebate given to the woman at the time of property registration, he said. It may be mentioned here that transfer of property in blood relation is free in the state. 

 

A stamp duty of six per cent is charged for property registration or transfer in the name of a male, but it is only four per cent in the case of a female, the minister said. In case of joint ownership of property at the time of registration (both man and woman), 1 per cent rebate on stamp duty is given. Deputy commissioners have been directed that women buyers should be given the rebate according to their share in the property. 

 

If the property is registered in the name of a woman then she will get full rebate (2 per cent), but if it is a case of joint ownership at the time of registration then the woman will get the rebate according to her proportionate share, the spokesman said.
 

Written by The Realty Paper


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