The Omar Abdullah government has announced an exemption on stamp duty for property transfers via gift deeds among blood relatives, effective April 1, 2025
In a move aimed at easing property transfers within families, the Jammu and Kashmir government has issued a notification remitting stamp duty on property transfers executed through gift deeds within blood relations.
The exemption will come into effect from April 1, 2025.
The decision was made after the finance department issued the notification by exercising its powers conferred by Section 9 (a) of the Stamp Act, 1977. The notification stated that the decision of providing the exemption was made in the public interest.
Blood relations have been defined to include father, mother, brother, sister, son, daughter, grandfather, grandmother, grandson and granddaughter.
To avail of this benefit, both the transferor and transferee must submit any two identity documents with a newly mandated Relationship Certificate. This certificate, issued by designated authorities, serves as proof of familial ties, ensuring the exemption is granted only to eligible beneficiaries.
The Relationship Certificate must contain details such as names, addresses, ages, and the nature of the relationship, authenticated with an official stamp and signature.
The decision is expected to make property transfers within families easy and more affordable and ensure that people can transfer their properties without facing an additional financial burden.
On March 7, Chief Minister Omar Abdullah presented a ₹1.12 lakh crore budget for Jammu & Kashmir for the fiscal year 2025-26, marking the first budget of an elected government in the region since 2018. He had also announced the exemption of stamp duty on property transfers within blood relations, aiming to streamline transactions and reduce legal disputes.