Man misuses Stamp Duty Rebate in name of women

By Accommodation Times Bureau

CHANDIGARH

The Revenue Department of Punjab has amended a rule to curb the misuse of stamp duty rebate extended to women on property registration.

As per the amended rule, now 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 2 per cent rebate given to the woman at the time of property registration.

This scheme was reportedly misused by unscrupulous persons who registered the property in the woman’s name to avail of the 2 per cent rebate and later transferred the same in the name of a male relative.

The scheme was launched to empower women by giving them a 2 per cent rebate on the acquisition of property in their name.

The decision to amend the rule was taken by the Revenue Department on the directive of Revenue Minister Sukhbinder Singh Sarkaria.

It may be mentioned here that transfer of property in blood relation is free in the state. A stamp duty of 6 per cent is charged for property registration/transfer in the name of a man, but it is only 4 per cent in the case of a woman.

A spokesman of the department clarified that in case of joint ownership of the property at the time of registration (both man and woman), 1 per cent rebate on stamp duty is given. All the 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 a full rebate (2 percent), 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.







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