Last Updated on 07/08/2024 by wccexam Desk
The Yogi government of Uttar Pradesh has implemented a major decision regarding the division of family property. Now there will be no dispute between the shareholders regarding the division of ancestral property. The government has given a big relief to those people who have been having disputes over ancestral property for years. Now they will be able to resolve those disputes for just five thousand rupees.
There are about 40 lakh registrations in Uttar Pradesh every year. It is often seen that there is a dispute in registration and property division. Chief Minister Yogi Adityanath has ordered that a stamp duty of Rs 5,000 should be fixed for property division among the family members and for transferring the property to the relatives by a living person. Earlier, the government had also given a big facility for transferring the property to blood relatives.
How will people benefit?
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Understand by example, if the value of the property is one crore rupees, then 7% stamp duty i.e. 7 lakh rupees has to be paid on it, but 30% discount is given in the division of ancestral property. That is, 4 lakh 90 thousand rupees stamp duty will have to be paid on property worth one crore rupees. Due to disputes among themselves regarding this duty, the cases get stuck. To end all these problems, all the shareholders of the ancestral property will come together and agree in front of the Tehsildar. They will give a written division formula among themselves and this formula will be implemented by paying only five thousand stamp duty.
What is the current distribution system?
At present in UP, for the division of ancestral property, a family register is made in the tehsil, in which the names of all the shareholders of the property are recorded. Then a consent letter is given in front of the Tehsildar. This takes a long time. Under the second process, the shareholders go to court, which takes many 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’s Stamp and Registration Minister Ravindra Jaiswal said that this proposal will prove to be a milestone in creating an atmosphere of love and unity in the family. In the partition document, all the parties are joint shareholders in the divided property and the division takes place among them.
Now property will be divided in UP for 5 thousand rupees, Yogi government implemented the decision
Online registry for sale and purchase of property
The UP government has also decided to implement the system of online registration for the purchase and sale of property. On applying online, the stamp fee for registration will also be deposited digitally. The deed will reach the allottee through e-mail. The entire process and its verification will be done digitally. However, the registration will be done during office timings only. With this decision, UP will be 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 the Yogi government will provide great relief to lakhs of families in the state. It is expected that this will reduce property disputes. The Chief Minister of UP had specifically given instructions for it. Earlier, many steps were taken to facilitate business in UP under the Ease of Doing Business. Now, under the Ease of Living, these steps have been taken by the Stamp and Registration Department to improve the standard of living of the people and provide them convenience.
Source (PTI) (NDTV) (HINDUSTANTIMES)