Expert views on Reduction in stamp duty by Up Cabinet | Square Yards

Expert views on Reduction in stamp duty by Up Cabinet | Square Yards | Saya Group.

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Mumbai, Maharashtra, 23rd of July 2025 : Expert views on Reduction in stamp duty by Up Cabinet | Square Yards | Saya Group.

1) Mr. Vikas Tomar, Executive President & Business Head, Square Yards

The Uttar Pradesh government’s decision to reduce stamp duty by 1% for women on property purchases up to Rs. 1 crore is a positive step and will likely boost sentiment among women aspiring to own a home. It also encourages more families to register properties in the name of women, supporting broader goals of financial inclusion and empowerment. The move is expected to benefit the mid-segment market the most which continues to attract end users and first-time buyers. Currently, key residential hubs in the state such as Noida, Greater Noida, and Ghaziabad offer a wide range of options across different budget categories in both primary and secondary segments. With this added incentive, we’re likely to see greater interest in the mid-range category across these cities, with more buyers moving forward with purchases under women’s ownership.

2) Mr. Vikas Bhasin, MD of Saya Group

Stamp duty and other levies form a significant part of home-buying costs, and any reduction in these charges helps buyers save a substantial amount of money. The current reduction in stamp duty will certainly benefit many homebuyers.

However, we have consistently advocated for a broader reduction in stamp duty—especially since it is charged in addition to GST on under-construction properties, which significantly inflates the overall cost of purchase. The government should consider reducing these charges for all homebuyers, regardless of gender or property value, to make homeownership more affordable and accessible.