Exemption of stamp duty for blood relations: Saving of Rs 5000 crore on 1.5 lakh property transfers

Exemption of stamp duty for blood relations: Saving of Rs 5000 crore on 1.5 lakh property transfers

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The Voice of Chandigarh News | Photo By T S Bedi

Stamp duty exemption on transfer of property among blood relations has come as a boon with the residents saving almost Rs 5000 crore on 1.5 lakh property transfer cases during the 2017-18 financial year.

Giving this information Revenue Minister Sukhbinder Singh Sarkaria 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 5000 crore.

The following is the district-wise break-up of the properties transferred among blood relations: Mohali 4907, Ludhiana 16001, Bathinda 9813, Amritsar 8841, Roopnagar 2779 and Patiala 12685. People have availed of this relief in other districts also.

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