PROPERTY GIFT TO WIFE

MM (Querist) 19 September 2009 This query is : Resolved
Hello,

I stay in kalyan(Maharashtra) & would like to gift the existing Flat to wife , as iam planning to buy 2nd flat. I would like to know the procedure for the same like gift deed , stamp duty , registration etc along expenses & time frame to complete the same.

thanks !!riven

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Bhumik Dave (Expert) 19 September 2009
Gift deed is simply a deed like sale deed and provisions of stamp duty is differ state to state. Batter way is consult a local revenue lawyer.riven

adv. rajeev ( rajoo ) (Expert) 20 September 2009
I think when gift is made to relation the registration charge is minimum. IN Karnataka it is Rs.1000/-. As Bhumik said stamp duty differs from state to state, so better to enquire with the Sub-Registrar of your city.riven

Jithendra.H.J (Expert) 20 September 2009
It is always good to consult a good lawyer to get the deed drafted, registration and stamp duty will be minimum.
go to the registrar office along with two witnesses and title deed to show that you are the owner and the Khata of the property, G tree etc.,riven

PALNITKAR V.V. (Expert) 20 September 2009
The formalities of drafting of a gift deed and registration thereof can be done hardly within a couple of days. The stamp duty depends upon the valuation fixed by the Govt in the area in which the flat situates. Since you are in Kalyan, I can help you as i keep visiting kalyan very often.riven

Raj Kumar Makkad (Expert) 20 September 2009
The reply qua gift deed registration have already been given but why dont you get a civil court decree by way of family settlement vide which no revenue stamp, registration etc. is required and even future disputes may also be settled therein????riven