Deemed consideration threshold increased for first-time residential allotments, expanding valuation basis subject to temporal and cap conditions.

Amendment raises the valuation threshold for deeming full value of consideration where transfer is a first time allotment of a residential unit, subject to a time window and a consideration cap, and adds a statutory definition of "residential unit" as an independent housing unit with separate living, cooking and sanitary facilities directly accessible from an outer door or shared hallway.

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