SRINAGAR: Chief Minister Omar Abdullah announced on Friday that no stamp duty will be charged on property transfers made as gifts within blood relations. The announcement was made while presenting the Jammu & Kashmir budget.
The move aims to ease financial burdens on families and promote hassle-free property transfers among close relatives. This exemption is expected to benefit thousands of residents by reducing transaction costs in inheritance and family settlements.
Alongside this, the budget also introduced key welfare measures, including 200 units of free electricity for Antyodaya Anna Yojana (AAY) families, free bus travel for women on government transport, increased marriage assistance from Rs 50,000 to Rs 70,000, financial aid for women-led MSMEs, and Rs 175 crore for legal infrastructure, including a National Law University and residential quarters for advocates.
