Regarding Uttar Pradesh Township Policy, 2023

UTTAR PRADESH SHASAN STAMP EVAM NIBANDHAN ANUBHAG-2 In pursuance of provisions of clause (3) of Article 348 of the Constitution, the Governor is pleased to order the publication of the following English translation of Government notification no. 16/2024/1171/94-S.R.-2-2024 dated 20 September, NOTIFICATION Order No. 16/2024/1171/94-S.R.-2-2024 Lucknow ; Dated : 20 September, 2024 In exercise of the powers under clause (a) of sub-section (1) of section 9 of the Indian Stamp Act, 1899 (Act no. 2 of 1899) as amended from time to time in its application to the State of Uttar Pradesh, the Governor, with effect from the date of publication of this notification in the official Gazette, is pleased to remit the stamp duty chargeable in respect of the instrument mentioned in column-4 of the Schedule below to the extent as mentioned in column-3 of the said Schedule, in accordance with the provisions of paragraph 3.4(2) of the Uttar Pradesh Township Policy, 2023 for the purpose as specified in column-2 of the said Schedule and for the objectives specified in the aforesaid policy. SCHEDULE Paragraph of the Uttar Pradesh Township Policy, 2023 Purpose Exemption Limit Nature of Instrument 3.4(2) For purchase of residual land after the issuance of licence for the project, excluding the land purchased by the developer/ consortium itself before the issuance of the licence. 50% On the instrument of conveyance under clause (a) of Article 23 of Schedule I-B of the Indian Stamp Act, 1899, as amended in its application to the State of Uttar Pradesh. The aforesaid exemption under this notification shall be subject to the following terms and conditions:- 1. As per the proviso of paragraph 3.12 (3) of the Uttar Pradesh Township Policy, 2023, stamp duty will be payable by the developer/allottees as per rules on the properties to be sold after land development under the scheme/project. 2. The exemption under this notification shall be available if the District Magistrate/Officer of the parent Department, not below the designation of district level, of the concerned district shall confirm in the instrument that the deed is being executed under the Uttar Pradesh Township Policy, 2023, and also sign as a witness for the said purpose. 3. Irrrevocable bank guarantee of the amount equivalent to the remission of stamp duty in favour of the District Magistrate shall be presented before the registration officer at the time of registration of such deed. The period of the Bank guarantee shall not be less than the period prescribed in the aforesaid Policy (10 years), for completion of the project. 4. As mentioned in paragraph 3.16 (3) of the aforesaid Policy , necessary action will be taken as per the rules and conditions of the Stamp and Registration Department, Uttar Pradesh for the recovery of stamp duty exemption in case of cancellation of the scheme/project. By order, Leena Johri Principal Secretary.