Punjab government has decided to abolish the stamp duty of two per cent levied on immovable property while awarding the power of attorney.
The stamp duty would now be a nominal Rs 1000 on the General Power of Attorney and Rs 500 on Special Power of Attorney, irrespective of the market value.
Cabinet has also decided in principle to offer the proprietary rights under concessional terms and conditions to the small and marginal agricultural farmers cultivating up to five acres of provincial government agricultural land.
These tillers who have been cultivating government land for at least 20 years would be entitled to allotment at significant discount from the collector rates.
The Cabinet also approved the creation of post of Senior Vice Chairman in Punjab State Board of Technical Education and Industrial Training and Punjab Khadi & Village Industries Board.
The Cabinet also approved the proposal mooted by the local government department for the disposal of Municipal properties under possession of occupiers for a period of twenty years or more.
Cabinet also decided to make amendments in the rates of property tax of hotels in the urban areas from the year 2015-16 by including this type in the category of commercial property.
