Transfer premium in chs

This query is : Resolved 

11 January 2019

dear sir
i have a flat in joint name with my elder brother
now i want to remove my brother name from the property and transfer my brother shares into my wife name this will be done by gift deed
shall i have to pay transfer premium and transfer fees to my cooperative society ?
only my wife name is to going to add as my name is already present as there is no financial transaction in this case
is stamp duty and registration is compulsory for this case
please guide me

Kishor Mehta (Expert)
12 January 2019

(1) No transfer fees are to be paid to the society for transfer by gift or sale to a member of the family.
(2) Gift deed has to be registered. Stamp duty and registration charges are applicable to the gift deed.

Dr J C Vashista (Expert)
13 January 2019

Very well advised by expert Mr. Kishor Mehta, I fully agree and appreciate his acumen and guidance.
The CHS has nothing to do with transfer of title of the flat but restricted themselves to share only, for that no charges are there.
Title of the flat shall change with registration of "gift deed", on payment of appropriate Stamp duty as well as registration charges, as applicable in your State.

Twinkle Parmar (Querist)
13 January 2019

Thank you Kishor Mehta ji & Dr J C Vashista ji for your earliest reply

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