Explanation:

In a major policy decision move, the administrative council (AC), which met under the chairmanship of Lieutenant Governor of Jammu and Kashmir, approved the remission of fifty percent (50%) stamp duty for all first time buyers of real estate in the housing sector.

The decision is aimed at giving a boost to the real-estate sector in Jammu and Kashmir and motivating the new buyers to participate in the market.

It is also expected to provide momentum to property sale and registration by making the purchase of property attractive and affordable.

In another important decision to promote women entrepreneurs in Jammu and Kashmir, the administrative council (AC) declared the Industrial Estate at Seen Thakran, Udhampur as women industrial estate.

This is a first-of-its-kind decision taken by the Administrative Council under which the Industrial Estate at village Seen Thakran in Udhampur will be reserved for women entrepreneurs and women-led industries.

The decision will benefit women entrepreneurs and industrialists as any business enterprise having a minimum of 51% stake held by a woman entrepreneur shall qualify to apply for allotment in reserved Industrial Estate.