UP Stamp Duty Exemption (IT City)

The Stamp Duty Exemption for IT City Developers operates as an incentive under the IT and ITeS Policy of Uttar Pradesh 2022. Its purpose is to speed up the creation of IT infrastructure in the state by lowering the upfront capital burden on large development projects.

Under this provision, the Government of Uttar Pradesh grants a full waiver of stamp duty. The waiver is intended to draw major real estate developers and consortiums into building integrated IT Cities. Land acquisition for large-scale projects becomes more financially workable as a result, which the government expects to support quicker expansion and modernisation of the state's technology landscape.

These IT Cities are envisaged as centres of technological innovation, supporting an ecosystem for IT and ITeS companies and creating significant employment. The measure forms part of a wider effort to establish Uttar Pradesh as a destination for information technology and IT-enabled services, contributing to economic growth and technological advancement.

- Go through the Uttar Pradesh IT and ITeS Policy 2022 in full to familiarise yourself with every term and condition it lays down. - Draw up a comprehensive project report together with a development plan for the IT City you intend to set up. - Assemble the documents relating to purchase or lease of land, and add the incorporation particulars of the developer or consortium. - File the stamp duty exemption application with the authority nominated for this purpose within the Government of Uttar Pradesh, in the manner the policy guidelines prescribe. - The state government will then examine the application, confirm that the project meets the required conditions and is eligible, and only thereafter sanction the exemption.