Lucknow, 6 January. The proposal to further widen the scope of exemption in stamp duty chargeable on donation deed of immovable property executed between family members in Uttar Pradesh was approved in the cabinet meeting chaired by Chief Minister Yogi Adityanath. In the same meeting held on Tuesday, the cabinet approved 13 out of 14 proposals.

Multi Super Specialty Hospital in PM Modi’s parliamentary constituency Varanasi

The Yogi Cabinet also approved the opening of a 500-bed multi super specialty hospital in PM Narendra Modi’s parliamentary constituency Varanasi. Along with this, it was decided to give special incentives to investors investing more than Rs 3000 crore under the semiconductor policy in the state.

State Finance Minister Suresh Khanna told the media that it has been decided to provide major relief in stamp duty on donation of commercial and industrial properties among family members in the state. Till now, under the Indian Stamp Act, 1899, stamp duty is payable on donation deeds in Uttar Pradesh as per the value of the property, like a conveyance deed, whereas as per the provisions of the Registration Act, 1908, registration of donation deed of immovable property is mandatory.

Some time ago, through the notification of Stamp and Registration Section-2 dated 3 August 2023, it was arranged that if immovable property is donated in favor of family members, then exemption in stamp duty will be taken only up to a maximum of Rs 5,000.

Till now this exemption was limited only to agricultural and residential properties. Now it has been decided to apply this exemption to donation of commercial and industrial properties among family members also. This will make the process of property transfer between families simple, transparent and less expensive.

SSPG Divisional District Hospital will be given the form of Multi Super Specialty Hospital

Similarly, the Cabinet has approved the construction of a 500 bedded Multi Super Specialty Hospital by demolishing 11 dilapidated and unusable buildings already present in the premises of Shri Shiv Prasad Gupta (SSPG) Divisional District Hospital located at Kabirchaura in the middle of Varanasi, the parliamentary constituency of Prime Minister Narendra Modi. This hospital will be built at a cost of Rs 315 crore 48 lakh and its construction work will be completed in four years.

Hospital to be built at a cost of Rs 315.48 crore will be ready in 4 years

In this project, 60 percent of the funds will be borne by the Central Government (approximately Rs 189 crore) and 40 percent by the State Government (approximately Rs 126 crore). Suresh Khanna says that with this decision, modern and high level medical facilities will be available to the patients of Purvanchal.

Mega incentive in semiconductor investment

The Finance Minister said that under the Semiconductor Policy brought by the State Government in January, 2024, with the aim of attracting large investments, it has also been decided to provide mega incentives for investments of Rs 3,000 crore or more. He said that semiconductor manufacturing is being done on a large scale in countries like America, Europe, Japan and Taiwan.

In this sequence, to make India and especially Uttar Pradesh a big center of this emerging industry, the Yogi government has approved giving incentives on case-to-case basis. Under this, interest subsidy to semiconductor units, employee cost reimbursement, exemption in net SGST for 10 years, 100 percent EPF reimbursement for natives of UP (maximum ₹ 2,000 per month), rebate in water price and exemption in electricity bill of Rs 2 per unit for 10 years will be given. He said that the main objective of this policy is to generate large-scale investment and employment opportunities in the state.