The UP cabinet has approved a proposal to extend stamp duty and registration fee relaxations for lease and tenancy deeds with a tenure of up to 10 years. The duty and fee structure has been revised downwards in order to encourage property owners and the ones renting out houses and commercial properties to formalise the lease agreements by paying up lower fees. Though the revised fee structure would hurt govt by Rs 8.31 crore, the objective is to get increased number of deeds registered.
