Srinagar: The Government Friday issued formal notification regarding remission of Stamp Duty on land /estate to be purchased in the name of the female member of the family.
“There shall be 100% remission of Stamp Duty leviable under the J&K Stamp Act Svt 1977 on land or estate, on its purchase in the name of a female member of the family,” said SRO-219 issued by the Principal Secretary Finance, Navin Kumar Choudhary.
The Finance Department issued two more SROs, 220 and 221 by virtue of which the Stamp duty for urban areas has been slashed from 7% to 5% and for rural areas from 5% to 3%.
The decision to waive of stamp duty on the properties owned by the women was taken by the State Cabinet last week and it was widely hailed as a progressive measure by various sections of the society.
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