MOVE AIMED TO EASE BUSINESS, FAST-TRACK OWNERSHIP RIGHTS AND STRENGTHEN DIGITAL RECORDS: HARDEEP SINGH MUNDIAN
Face2News/Chandigarh
The Punjab Vidhan Sabha today unanimously passed "The Indian Stamp (Punjab Second Amendment) Bill, 2025", "The Punjab Abadi Deh (Record of Rights) Amendment Bill, 2025" and "The Punjab Land Revenue (Amendment) Bill, 2025" introduced by Punjab Revenue, Rehabilitation and Disaster Management Minister S. Hardeep Singh Mundian during the special session of the House.
S. Hardeep Singh Mundian said the amendment to the Indian Stamp Act, 1899 rationalizes stamp duty related to deposit of title deeds, hypothecation and equitable mortgage by removing duplication of levy for the same loan transaction. He said a single duty on the total loan amount with a reasonable upper cap will lower transaction costs, improve ease of doing business and support MSMEs.
On the Punjab Abadi Deh (Record of Rights) Act, 2021, he said that reduced timelines for objections and appeals will speed up implementation of "Mera Ghar Mere Naam" Scheme, ensuring timely ownership rights to residents of Abadi Deh areas.
The Revenue Minister said amendments to the Punjab Land Revenue Act, 1887 will expedite disposal of cases before revenue authorities, prevent unnecessary summoning of non litigants and accord legal sanctity to digital records and digital signatures. He said the move will reduce hardship for citizens and bring citizen friendly digitized record keeping across the State.