Nri- transfer of immovable property

Pranit Dalvi (Querist) 20 June 2017 This query is : Resolved
My Cousin Sister & Brother(Both of Indian Origin) stays in Germany and holds property in Mumbai...Presently the property is in the name of Husband...want to transfer the same to his wife (as my sister is coming in India within next few days but due to some work husband will not able to come to India )...Please advise whether i should execute Sale Deed or Gift Deed?
Please let me know the Stamp Duty & Documents required Registration??

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Dr J C Vashista (Expert) 21 June 2017
1. Prefer gift deed as it is "out of love and affection" and no consideration amount is involved.

2. Stamp duty and registration charges are local (State) subjects for which the lawyer (which your sister shall be hiring for documentation) shall guide and arrange.

Rajendra K Goyal (Expert) 21 June 2017
In Maharashtra stamp fee on gift of property to near relatives was almost free (Rs. 200/-), from recent news item it seems it has been fixed at 3% of the market value of the property.

If the owner of the property is not in India, he can execute POA and on this POA property can be transferred.

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