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The Uttar Pradesh government has increased the property value cap under its 1% stamp duty relief scheme for women buyers from INR 10 lakh to INR 1 crore. With this change, a woman purchasing property in her name can now save up to INR 1 lakh on registration, especially in urban centres like Noida and Ghaziabad. The move is expected to boost homeownership among women, promote joint ownership within families, and support housing demand in the mid-segment market. Real estate players, however, feel the cap could be raised further to reflect the prevailing market values.
The Uttar Pradesh government has expanded its stamp duty rebate scheme for women by raising the property value limit for the 1% concession from INR 10 lakh to INR 1 crore. The revised rule came into effect during the past week and applies to all properties registered solely or jointly in a woman's name. With stamp duty rates in most cities ranging between 6% to 7%, the revised scheme now allows a woman to save up to INR 1 lakh during property registration. Advertisement
Previously, the relief was limited to properties valued at INR 10 lakh or less, which meant the maximum benefit was capped at INR 10,000. With the new limit of INR 1 crore, the scheme now becomes more relevant for buyers in urban regions where even mid-sized apartments exceed INR 50 lakh.
In Noida, for instance, over 73,000 women were among 1.8 lakh property registrants during the last financial year. Officials and developers believe this policy change will encourage more buyers to register homes in women's names, promoting financial inclusion and increasing formal asset ownership by women.
The announcement aligns with the state's larger focus on women empowerment under schemes such as Mission Shakti. However, several industry voices have pointed out that many new properties in Noida, Greater Noida, and Ghaziabad are priced above INR 1 crore. They have urged the state to consider revising the threshold further possibly to INR 2 crore so the rebate remains impactful in premium localities as well.
Additionally, district-level stamp and registration departments across the state have been instructed to carry out fresh surveys for revising circle rates. This update aims to align official property values more accurately with current market trends and reduce the mismatch between actual transaction values and government rates.
This initiative follows the central government's earlier announcement in the Union Budget 2024, which proposed reducing stamp duties on property transfers in women's names. The UP government's move strengthens that national direction by offering state-level incentives that encourage property ownership among women buyers.
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