Exemption Of Stamp Duty For Blood Relations Saved Rs 5000 Crore On 1.5 Lakh Property Transfers

By Accommodation Times Bureau

CHANDIGARH

Stamp duty exemption on transfer of property among blood relations has come as a boon with the residents saving almost Rs 5,000 crore on 1.5 lakh property transfer cases during the 2017-18 financial year.

The Revenue Minister Sukhbinder Singh Sarkaria on Tuesday said that transfer of property in blood relations (son, daughter, father/mother, brother/sister, grandson, granddaughter and spouse) had been made free from any stamp duty or other charges and cesses.

The value of the 1.5 lakh properties was over Rs 36000 crore. If these properties had been transferred without exemption of stamp duty and other charges then the amount would have gone up to Rs 5,000 crore, it said.





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