I want to transger house to sister name

Anand (Querist) 22 October 2009 This query is : Resolved
Hi

I want to transfer house from my name to sister name. Can i trasnfer my house to sister name? can i gift house to sister?

how much will be charges?

do she have to pay tax on house value if i gift her house?

Thanks

Anand

Follow Query

Report Abuse

Arul Kumar (Expert) 22 October 2009
You can gift your house to sister. But it needs to be registered as per the pravailing Registration Act.

Kiran Kumar (Expert) 22 October 2009
i agree with Mr. Arul

registration charges will have to be paid.

Khaleel Ahmed (Expert) 22 October 2009
Yes you can transfer your property in your sister!s name. The charges and stamp duty depends on the value and place of the property .

Sachin Bhatia (Expert) 22 October 2009
You can gift your house to sister. The charges and stamp duty will have to be paid.

Raj Kumar Makkad (Expert) 22 October 2009
I have also similar opinion as of other experts on this subject.

adv. rajeev ( rajoo ) (Expert) 22 October 2009
u can gift the property to your sister by exeucting the regd., gift deed, which is cheapest way. Regn., charge is minimum or u can exeucte the regd., rights relinquish deed it is also minimum stamp duty.
If the property is self acqured you have no problem to transfer the property to ur sister.

Anand (Querist) 22 October 2009
Hi

Actually I have house which is on mother name and my name. I want to cancel my name from property so that my mother can take sole decision about property. which of below option is good and how much will be cost?

1) Gift deep
2) Release deed.
3) Settlement deed.
4) House transfer.

Your help will be highly appreciated. Can you give me name of any good lawyer in Mumbai who can do it.

Thanks

Anand