LUCKNOW, Jan. 7 -- The Uttar Pradesh cabinet on Tuesday approved a proposal for a major reform simplifying intra-family transfers by extending the stamp duty relief to gift deeds among family members even for commercial and industrial properties.

Chief minister Yogi Adityanath presided over the meeting of the state cabinet that approved 13 proposals including the one to cap the stamp duty on gifted properties among family members at Rs.5,000 both in rural and urban areas.

The Indian Stamp Act, 1899, provided for charging the stamp-duty based on the value of the property. The state government, through a notification issued by the stamp and registration department on August 3, 2023, decided that a stamp duty at a concessional rate with a ...