#RealtyNewsRoundUp: J&K Women Do Not Have To Pay Stamp Duty On Property Purchase

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The Jammu and Kashmir government on May 11 abolished stamp duty on the sale of property registered in the name of women. This was with the view to encourage families to register property in the name of their women members. Meanwhile, the United Nations has termed it as a big step towards women empowerment.

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India was the largest remittance-receiving country in the world, with migrant workers from the country sending home $69 billion in 2017, according to a report which said remittances to the Asia-Pacific region amounted to US 256 billion last year. The report, RemitSCOPE - Remittance markets and opportunities – Asia and the Pacific, said India ($69 billion) , China ($64 billion) and the Philippines ($33 billion) were the three largest remittance-receiving countries in the world in 2017.

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The government is working on a new direct tax code that will be ready for July and will lower the corporate tax rate to 25 per cent and seek to give further relief to small tax payers.

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The New Delhi Municipal Council (NDMC) has announced the e-auction of three of its premium hotels in Lutyen's Delhi, including the five-star property Taj Mansingh, for a period of 33 years. The other two hotels that would be auctioned are The Connaught and Hotel Asian International. The civic body held a pre-bid meeting for the three properties last week and the submission period of bids is from May 15-June 7.

Source: Media reports