In a relief to the farmers who are suffering from financial distress due to natural calamities, the Shinde-Fadnavis government proposes to bring down stamp duty on the transfer of farmlands locked in family disputes causing delays in settlement.
A senior minister from the government told the Free Press Journal on Tuesday, that the government proposes to charge a fixed stamp duty of Rs1,000 instead of the present 5% on such documents. Besides, the government plans to recover a fixed registration fee of Rs1,000 instead of Rs30,000. “This aims to pave the way for an early settlement of family disputes among the farming community,” he said while clarifying that the rebate in stamp duty will not be applicable for documents relating to other property transactions.
According to the minister, the state cabinet is expected to approve the revenue department’s proposal in its next meeting.
A bureaucrat backed the decision saying that the reduction in stamp duty will lead to an early settlement of family disputes over land parcels among the farming community. “The long-pending disputes result in reluctance by banks to provide loans for agriculture and also problems in carrying out irrigation development through government grants, subsidies and financial assistance,” he said.
