The British sold Kashmir to Gulab Singh Dogra under the:

The British, in accordance with the terms and conditions of the Treaty of Amritsar, on March 16, 1846, sold Kashmir to Gulab Singh Dogra. In the aftermath of the First Anglo-Sikh War, the British East India Company ceded Kashmir to Gulab Singh in exchange for 75 lakh rupees (7.5 million) , thereby appointing Gulab Singh as an independent Maharaja in Jammu and Kashmir.