Gift

s b krishna (Querist) 27 March 2012 This query is : Resolved
Whether a son can gift a property, whether movable or otherwise, to his mother ?, if so what will be registration fee ?

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ajay sethi (Expert) 27 March 2012
for immoveable property a gift deed would be necessary . stamp duty and registration charges paid . it would depend upon value of property . stamp duty in case of bloood relations is nominal .

registration charges would vary depnding upon state wherein you are located .

A V Vishal (Expert) 28 March 2012
In A P the prescribed stamp duty & registration charges in case of gift of immovable property to blood relations is 3.5% of the guideline value. In case of gift of movables there is no stamp duty/registration charges.

V R SHROFF (Expert) 29 March 2012
Regn usually 1% of mkt value, as no consideration for gift.

Guest (Expert) 31 March 2012
Agree with experts.

prabhakar singh (Expert) 31 March 2012
Q:...
Whether a son can gift a property to his mother ?

Answer:..
Yes!If major he can gift a property owned and possessed by him not only to his mother but to any body of his choice.

Q:...
whether movable or otherwise???if so what will be registration fee ?

Answer:..
In case of movables,the gift would be legally complete only by handing over the possession and control over the property for which no deed would be legally required hence no stamp duty or registration fees would be charged.
But in case of IMMOVABLE property stamp duty would be payable subject to value of property and @ the rate prescribed by the state in which property situate and registration fees is always a fixed sum as prescribed by the state.

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