Stamp duty on the transfer of tenants in case of pagadi system property
ND
(Querist) 26 June 2012
This query is : Open
Hi,
My Granny owns (we are not the landlord or owners) a house under pagadi system for which she pays rent to the Landlord.
Because of her old health she now wants to transfer the property in my name, such that I would be the new tenant and the rent receipt will be issued in my name.
I had heard there is a 90% stamp duty that one need to pay for the transfer of tenant ownership from my Granny to my name. Please note that this is not a sale, its jus the transfer.
Request you to please let me know,
1. If there really exists a stamp duty on such tranfers and if yes the how much percentage? The House is in Mumbai Central.
2. What is the procedure to be followed for such transfer?, if the expert can spell out in detail.
