Gift deed

brs (Querist) 02 April 2013 This query is : Resolved
my friend died and left the property with widow and one son and daughter so the children like to give gift of their share to their mother . now the daughter and son are living in bombay and have property in mumbai and some in chennai too. can all gift will be registered in chennai ? or need too do their jurisdictional limit

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Raj Kumar Makkad (Expert) 02 April 2013
Gift shall fetch more stamp duty whereas the Relinquishment deed do require only token stamp duty so why they don't opt this?

The relinquishment deed shall be required to be registered in Mumbai only whereas the gift can be made and registered at any place.

Sankaranarayanan (Expert) 02 April 2013
i too agreed the same . better to opt relinquishment deed

brs (Querist) 02 April 2013
thanks both experts. The widow is living in tamilnadu and like to do with in tamilnadu. If gift deed then the registration is 8% but for relinquishment deed how much suppose to need the payment

Devajyoti Barman (Expert) 02 April 2013
The gift deed or release deed is to be made in respective states. No single deed would be sufficient.

brs (Querist) 02 April 2013
thanks sir , what is the cost of amount for registration for relinquish deed

Raj Kumar Makkad (Expert) 02 April 2013
Relinquish deed requires a fee of just Rs. 500/- in many States but you need to enquire it from your own State as this is different from State to State.

brs (Querist) 02 April 2013
thanks verymuch sir,

Raj Kumar Makkad (Expert) 02 April 2013
Most welcome from your side brs.

Devajyoti Barman (Expert) 03 April 2013
In WB , the stamp duty is like gift i.e 1.7%

Raj Kumar Makkad (Expert) 03 April 2013
Stamp duty is different from State to State so it is beter to enquire about it locally from the office of registrar.