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(Querist) 10 August 2008 This query is : Resolved 
We are 4 brothers and 5 sisters.Our parents are not alive.We want to sell our old house which is in our mother's name.Our sisters are ready to execute a release-deed after getting Rs 50000 each.
I will be thankful if the following queries are replied:
1)Should the release-deed be written on a stamped paper? If so, what is the value of the stamped paper? The value of the house to be sold is Rs. 17 lakhs.
2)Should the release-deed be registered in the Registrar's Office?

KamalNayanSaxena (Expert) 10 August 2008
Stamp duty for release deed is Rs. 100/-
it is not required to be written on stamp paper but it should be registered.

You should not mention the consideration in that deed.
GOPI KRISHNA (Expert) 10 August 2008
Yes it should be written on stapm paper and registered before the sub-registrar

as for stamp duty you may verify in the sub-registry office for exact amount and also the registration fees
arunprakaash.m. (Expert) 11 August 2008
RELEASE DEED should be written in stamp paper and also it should be registrated. The current stamp duty is 13% according to tamilnadu stamp dut act. check with local advocates or call me 0983384 3250
R.Rajendran (Querist) 12 August 2008
Dear Shri Arun prakash,
Please clarify what is meant by 13%.
(13% of which amount?)

Guest (Expert) 13 August 2008
13% on the market value of the property.

Apart from Stamp Duty as this rate, there will be registration charges at 1 or 2% of the Stamp duty.

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