Gift deed

yamni2011 (Querist) 04 November 2014 This query is : Resolved
My aunt (step mother’s sister) has a property (House) in her name and she wants to gift the property to me. However I will have to pay 8 % stamp duty (Around 10 L) as it is a non-blood relation. My queries

1. Can the gift reach me via my step mother,my father and finally to me (i.e. by means of three gift deeds) to avoid stamp duty ?

2. Can all the gift deeds be executed within say two months or there is any restriction on number of transactions per year ?

Thanks in Advance

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Devajyoti Barman (Expert) 04 November 2014
1. No, it is not done.
2. No

Shailesh Kr. Shah (Expert) 04 November 2014
1. you should execute and register gift deed in your favour directly.

what is the reasons involvement of step mother and your father ?

2. there is no restriction.

yamni2011 (Querist) 04 November 2014
Thanks for the immediate reply.

The reason I wanted to involve them is transactions from my aunt to step mother (both are sisters), step mother to father, father to me are blood relation category which will not attract any stamp duty charges.

If my aunt transfers to me directly, I will have to pay 8 % duty.

Kindly correct me if my above assumption is wrong.

Thanks.

Guest (Expert) 04 November 2014
your Idea is very good.Instead of making it as Gift Deed You could make it as Settlement Deed it would be more reasonable for you expense wise.Consult a Good ,Senior Document Writer at Registrar Office.

Shailesh Kr. Shah (Expert) 04 November 2014
are you belonging to which state of india ?

Rajendra K Goyal (Expert) 04 November 2014
What is the Stamp duty on gift deed to non blood relation in your state ? She can will the property in your name, but will can be changed any time.

yamni2011 (Querist) 04 November 2014
@ Mr. Goyal : Stamp duty for non blood relation is 7 %

Shailesh Kr. Shah (Expert) 04 November 2014
my question is still pending ?

Guest (Expert) 04 November 2014
If it is Going to be Settlement Deed it could be much Lesser than Totally Rs 2 Lacs for all the three Settlement Deeds.1)Aunty to your Step Mother 2)Step Mother to your Father 3)Father to daughter Yourself.It could be completed in 3 days as Each One Day.Consult a Senior Document Writer at the Concerned Registrar Office