Chief Minister of Jammu & Kashmir Union Territory, Omar Abdullah Tweet a Post on Sunday Morning, in which they informed about the remission of Stamp Duty on land transfers in J&K, which comes to implement from April, 1st, 2025.
In his Tweet, CM Omar Abdullah shared the notification of Finance Department and wrote "As a reform measure aimed at public ease and as announced in Budget 2025, the Notification for remission of Stamp Duty on Gift Deeds within blood relations has been issued. Come April 1, such land transfers between close family members will attract zero stamp duty in J&K".
The Notification which shared by CM Omar Abdullah, is the document is a notification from the Government of Jammu and Kashmir, Finance Department, regarding the remittance of stamp duty on property transfers within blood relations via Gift Deed. Key details include:
Effective Date: April 1, 2025.
Stamp Duty Remittance: Waives stamp duty for property transfers via Gift Deed between blood relatives.
Blood Relations Defined: Includes Father, Mother, Brother, Sister, Son, Daughter, Grand Father, Grand Mother, Grand Son, and Grand Daughter.
Document Requirement: Requires submission of two documents from Annexure-A (not shown) for both transferor and transferee.
Authority: Issued by the Principal Secretary to the Government, Finance Department.