RULE TO CURB MISUSE OF REBATE IN PROPERTY REGISTRATION

CHANDIGARH: The Punjab government on Monday announced to amend a rule to curb the misuse of 2% stamp duty rebate extended to women on property registration. The scheme was reportedly misused as some people who registered the property in women’s name to avail of the 2% rebate and later transferred the same in the name of their male relatives. 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 2% rebate given at the time of property registration. Transfer of property in blood relation is free in the state. A stamp duty of 6% is charged for property registration/transfer in the name of a man, but it is only 4% in the case of a woman.