Misuse of stamp duty rebate: New rule bars transfer of property for one year

Punjab Government has amended a rule to curb the misuse of stamp duty rebate extended to women on property registration.

The scheme was launched to empower women by giving them a two percent rebate on the acquisition of property in their name.

“The scheme is being 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,” said the state Revenue Minister Sukhbinder Singh Sarkaria on Monday who has decided to amend the rule.

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 percent rebate given to the woman at the time of property registration, he said.

It may be mentioned that transfer of property in blood relation is free in the state.

A stamp duty of six percent is charged for property registration or transfer in the name of a male, but it is only four percent in the case of a female, the Minister pointed.

Spokesperson clarified that in case of joint ownership of property at the time of registration (both man and woman), one percent 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, she will get full rebate — that is two percent, but if it is a case of joint ownership, at the time of registration, the woman will get the rebate according to her proportionate share, the spokesperson said.