Inclusion of wife name in sale deed

Querist : Anonymous (Querist) 09 July 2019 This query is : Resolved
Sir, I am a govt employee and having an open plot measuring 125 sq yards in hyderabad on my name. Now, I would like to add my wife(she is alo govt employee) name in the sale deed, so, we can go for home loan jointly and can get income tax rebate accordingly. Any body can suggest how to make the subject property as joint property with me and my wife. Gift deed or any other options are available.

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Querist : Anonymous (Querist) 09 July 2019
any reply pls

kavksatyanarayana (Expert) 09 July 2019
Dear Ji, you have to executed Gift deed (better 1/2 share in the entire property) in favour of your wife. The stamp duty leviable is Rs.1% on the Market Value/party's market value) whichever is higher besides the Registration fee.

P. Venu (Expert) 10 July 2019
Yes, the procedure is in making a gift of part of the property in favour of your wife. The gift deed requires to be registered unless you are a Muslim.

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