J&K Govt Exempts Stamp Duty on Property Transfer Among Blood Relations

The Jammu and Kashmir Government has announced a stamp duty exemption for property transfers executed through gift deeds among blood relations. The Finance Department issued a notification under Section 9(a) of the Stamp Act 1977, stating that this move is in the public interest.

The exemption applies to a father, mother, brother, sister, son, daughter, grandfather, grandmother, grandson, and granddaughter. It will be effective from April 1, 2025, ensuring that eligible transactions from this date benefit from the waiver.

Both the transferor and transferee are required to provide at least two identification documents as proof.

This initiative aims to ease property transfers within families and reduce financial burdens.