Jammu & Kashmir – Chief Minister Omar Abdullah announced on Friday that families will not have to pay stamp duty on property transfers made as gifts between blood relatives. This decision was revealed during the presentation of the Jammu & Kashmir budget and aims to make it easier for families to transfer property without extra costs.
This new rule is expected to help thousands of residents by lowering the costs involved in passing down property through inheritance or family agreements. It shows the government’s commitment to supporting families and making property transactions smoother.
Along with the stamp duty exemption, the budget also introduced several important welfare measures, including:
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200 Units of Free Electricity: Families enrolled in the Antyodaya Anna Yojana (AAY) will receive 200 units of free electricity, helping low-income households save money.
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Free Bus Travel for Women: Women will be able to travel for free on government buses, making it easier for them to get around.
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Increased Marriage Assistance: The financial help for marriages has been raised from Rs 50,000 to Rs 70,000, providing more support to families during wedding celebrations.
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Support for Women-led Small Businesses: The budget includes financial aid for women-led Micro, Small, and Medium Enterprises (MSMEs), encouraging women to start and grow their businesses.
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Investment in Legal Infrastructure: Rs 175 crore has been set aside to improve legal services, including plans for a National Law University and housing for lawyers.
These initiatives are part of the government’s plan to improve the lives of its citizens and boost the economy in Jammu and Kashmir. The stamp duty exemption for property gifts among relatives is especially important for families dealing with property inheritance.
As the government moves forward with these plans, residents are hopeful for positive changes in their financial situations and overall quality of life.
For more updates on the Jammu & Kashmir budget and other news, keep checking our website.
