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Gift deed execution on equitable mortgaged property

(Querist) 14 September 2017 This query is : Open 
Dear All,
My Dad is sole owner of a residential plot.My dad age 59,my mom age 51 and myself age 33 we jointly applied for a home loan in year 2015 for construction of a bungalow for self use.We took the loan from a nbfc and its on equitable mortgage,we submitted the original sale deed of 1986 and the original municipal corporation sanctioned plan of the bungalow as title deed deposits.
The construction of the bungalow is nearly complete and we want to shift in the bungalow by November 2017.
My query is
Can a Gift deed be executed by my father to myself even if the home loan is still going on?or will i have to clear the home loan first and then get the gift deed done.
If we can't close the home loan can The nbfc grant us permission or something in writing to go ahead with the gift deed?whats the procedure for the above
Also is the completion certificate from municipal corporation compulsory before getting the gift deed executed or can the gift deed be executed and then the completion certificate be applied for.
What will be the charges incurred for the gift deed father to son in Pune Maharashtra?
Ms.Usha Kapoor (Expert) 15 September 2017
You get the completion certificate from Municipal corporation first and then proceed with registered gift deed from your father in your favour to save on capital gains tax.
Hemant Agarwal (Expert) 15 September 2017
1. Obtain "NOC" from the NBFC for executing the said Gift Deed.

2. Stamp Duty 3% plus 1% Registration Charges, on the rateable value of Gifted Property

Keep Smiling .... Hemant Agarwal
Kumar Doab (Expert) 15 September 2017
If your loan is not fully paid then NBFC shall not be pleased with any idea of alienation of little of mortgaged property, without its information and consent.

Therefore take NBFC into confidence and obtain NOC.

Kumar Doab (Expert) 15 September 2017
Subsequent to payment in full of loan the title holder can dispose as it pleases to the owner.
Vikas (Querist) 15 September 2017
Dear ALL,
Thank you for your help.
Kumar Doab (Expert) 15 September 2017
You are welcome..............

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