June 18, 2018 8:12:27 pm
The Punjab government has amended a rule to curb the misuse of stamp duty rebate extended to women on property registration, a state minister said on Monday.
The scheme was launched to empower women by giving them a two per cent rebate on the acquisition of property in their name.
It was misused by unscrupulous persons who registered the property in a woman’s name to avail the rebate and later, transferred the same in the name of a male relative, Revenue Minister Sukhbinder Singh Sarkaria said at Chandigarh. The decision to amend the rule was taken by the Punjab Revenue Department. As per the amended rule, if the property acquired by a woman is transferred in the name of a male relative within a year, the government will take back the two per cent rebate given to the woman at the time of property registration, he said.
It may be mentioned here that transfer of property in blood relation is free in the state. A stamp duty of six per cent is charged for property registration or transfer in the name of a male, but it is only four per cent in the case of a female, the minister said. A spokesman of the department clarified that in case of joint ownership of property at the time of registration (both man and woman), 1 per cent rebate on stamp duty is given.
Deputy commissioners have been directed that women buyers should be given the rebate according to their share in the property.
If the property is registered in the name of a woman then she will get full rebate (2 per cent), but if it is a case of joint ownership at the time of registration then the woman will get the rebate according to her proportionate share, the spokesman said.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.