Yogi government of Uttar Pradesh has implemented a big decision regarding distribution of family property. Now there will be no dispute between the shareholders regarding the division of ancestral property. The government has given great relief to those people among whom there is a dispute going on for years regarding ancestral property. Now they will be able to resolve those disputes in just five thousand rupees.
There are about 40 lakh registries every year in Uttar Pradesh. It is often seen that disputes arise in registry and property distribution. Chief Minister Yogi Adityanath has ordered that a stamp duty of Rs 5,000 should be fixed for the division of property among families and for naming the property in the name of family members on behalf of a living person. Earlier, the government had given a lot of relief to the property in the name of blood relatives.
How will people benefit?
Understand for example, if the value of the property is one crore rupees, then seven percent stamp duty has to be paid on it i.e. seven lakh rupees, but 30 percent exemption is available in the division of ancestral property. That means, stamp duty of Rs 4 lakh 90 thousand will have to be paid on a property worth Rs 1 crore. Cases get stuck due to disputes among themselves regarding this fee. To end all these problems, all the stakeholders of the ancestral property will come together and give consent in front of the Tehsildar. We will give a written distribution formula among ourselves and this formula will be implemented by paying only Rs 5,000 stamp duty.
What is the present distribution system?
At present in UP, for the distribution of ancestral property, a family register is prepared in the tehsil, in which the names of all the shareholders of the property are entered. Then the consent letter is given in front of the Tehsildar. It takes a long time. Under the second process, the stakeholders go to court, which takes several years to settle. Under the third process, all the shareholders of the ancestral property come together and give a consent letter.
What did Stamp Minister Ravindra Jaiswal say?
UP Stamp and Registration Minister Ravindra Jaiswal said that this proposal will prove to be a milestone in creating an environment of love and unity in the family. In the partition document, all the parties are joint shareholders in the divided property and the partition takes place between them.
Now property will be divided in UP for Rs 5,000, Yogi government implemented the decision
There will be online registry for purchase and sale of property.
The UP government has also decided to implement the system of online registration for purchase and sale of property. On applying online, the stamp fee for registry will also be deposited digitally. The deed will reach the allottee through e-mail. The entire process and its investigation can be done digitally. However, registration will be done in office timings only. With this decision, UP will become the second state in the country to have e-registry. Till now the facility of e-registry was available only in Maharashtra. This will also reduce the pressure of crowd in the registration office.
Lakhs of families will get relief
This decision of Yogi government will provide great relief to lakhs of families of the state. This is expected to reduce property disputes. The Chief Minister of UP had specifically given instructions for this. Earlier, many steps were taken to make it easier for the businessmen in UP to do business under Ease of Doing Business. Now under Ease of Living, these steps have been taken by the Stamp and Registration Department to improve the living standards of the people and provide them convenience.