New Delhi, Jan. 6 -- In a significant relief for property owners, the Uttar Pradesh government is poised to extend the concessional Rs 5,000 stamp duty facility on gift deeds to industrial and commercial properties, in addition to residential and agricultural land.

The proposal, moved by the Stamp and Registration Department, is expected to be placed before the state cabinet chaired by Chief Minister Yogi Adityanath on Tuesday and is likely to receive approval.

If cleared, family members will be able to transfer ownership of shops, factories and other commercial or industrial properties through a gift deed by paying a flat stamp duty of Rs 5,000.

This move is being positioned as a major New Year initiative aimed at simplifying property...