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shanmuga pradeep   23 November 2023

Property transfer inquiry mother to son

I am a 27-year-old Hindu male residing in Chennai, Tamil Nadu, India.

In 2018, I acquired a property in Chennai under my mother's name, covering the entire cost myself. Currently, I wish to transfer ownership from my mother to myself, and she is in agreement with this. Could you please guide me through the necessary procedure?

  1. Would there be a requirement to pay stamp duty again, based on the current valuation of the property?

  2. Is there a need to settle property taxes once more?

I appreciate your assistance.

Thank you.



Learning

 4 Replies

Shashi Dhara   23 November 2023

Let she gift it to you then stamp duty will be nominal.

T. Kalaiselvan, Advocate (Advocate)     23 November 2023

Your mother can transfer the property by executing a registered settlement deed in your favor.

The appropriate stamp duty and the registration charges are to be paid for executing and registering this deed.

The stamp duty would be less when compared to the stamp duty paid towards the sale deed. 

Once the property is transferred to your name, then you need to pay the periodical property taxes. 

Advocate Bhartesh goyal (advocate)     24 November 2023

Your mother can transfer the property to you by way of registered gift deed, this mode will be cheaper then other mode of transfer.

P. Venu (Advocate)     30 November 2023

What is the stand of your mother? Is she willing to transfer?


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