Taking a major step in the direction of women empowerment in Jammu and Kashmir, Mehbooba Mufti led government on Friday abolished stamp duty on the properties being registered in the name of female members of the family.
The move is aimed to encourage women to own the properties in the restive Jammu and Kashmir.
The decision was taken in a cabinet meeting chaired by Chief Minister Mehbooba Mufti in Srinagar. “The cabinet accorded sanction to the reduction in Stamp Duty. There will be zero Stamp Duty on the property registered in the name of female member of the family," said an official spokesman after the cabinet meeting.
“The Cabinet also approved levying 5% Stamp Duty in the Urban areas and three percent in the rural areas, if the property is registered in the name of male member of the family. There will be zero percent Stamp Duty if the property in both urban as well as rural areas is registered in the name of female member of the family”, said the official spokesman.
Later, Mufti took to twitter express her happiness on the cabinet decision.
“Pleased to announce that we have abolished stamp duty on the sale of property registered in the name of females. This incentive will encourage families to register their properties in the name of their sisters, daughters, wives & mothers. Women, as of now own bare minimum immovable assets even after contributing the maximum to our society," she tweeted.
