Dollnick 11 November 2015

Transfer of property

I want to gift a property (market value: Rs. 55 lakh) registered under my name & property (market value: Rs. 25 lakh) co-owned with my Son to my 34-yr old daughter living in the UK. Both the properties are located in Pune Maharshtra, India. Can you give me an estimate of cost involved (in INR) related to stamp duty? Also, is there a discount on stamp duty when it comes to transfer blood relatives?

I would also like to mention, the property co-owned with my Son is under a contract with a builder as to 50-50 proceeds. Can I transfer my proceeds/share of this property which is 25% as a gift to my daughter. Please advise what is the procedure.

I'll greatly appreciate a response.

Many Thanks

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3 Replies

adv. rajeev ( rajoo ) (practicing advocate) 11 November 2015

I think for registration stamp duty is minimum.

Kumar Doab (FIN) 12 November 2015

The state govt might have waived off the stamp duty for transfer amongst blood relatives, and might have kept the details on its website as well.You may pay a visit to SRO and inquire. A local lawyer specializing in family/revenue/civil matters can help you.

Dollnick 17 November 2015

Thank you for your replies, really appreciated. Do I need to be physically present to get the gift Deed registered in my name? Please advise asap. Many thanks in advance. Highly appreciated