Gift deed

Rama (Querist) 08 May 2014 This query is : Resolved
When a father/mother/brother/sister wants to gift a property(flat) to one of their family members then a gift deed is made.

1. How much Concession does one get in the stamp duty?

2. Once the deed is done the property is registered in the Donee's name and also transferred in the Society's records.

Do we have to pay any charges to the Society?

3. In future, if the same property has to be sold do we still require the permission of the original owner/doner?

Regards,

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ajay sethi (Expert) 08 May 2014
1) it would depend upon stamp act of state .

2) no transfer charges are payable .

3) no permission from donor is required

Sankaranarayanan (Expert) 08 May 2014
It vary from state to state
No meed to pay amount for transfer and once it transfer then no permission is required from them