JK govt abolishes stamp duty on sale of properties in women's name

Srinagar, May 12: CM Mehbooba Mufti-led Jammu and Kashmir government on Friday waived off stamp duty on the sale of properties registered in the name of women. Notably, the decision is seen as a step to empower women in the state which may help them to own more immovable assets. 

The state cabinet of Jammu and Kashmir sanctioned reduction of stamp duty by 5 percent in the rural areas if a property is registered in the name of a male member of the family. However, the state cabinet has also abolished stamp duty in case the property is registered in the name of a female member of the family in both urban and rural areas.

On the other side, CM Mehbooba Mufti in a series of tweet said, “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 said in another tweet.

Importantly, the proposal was mooted by the state Finance Minister Altaf Bukhari in the cabinet.