29 May 2020
My father has gifted 3000sft land to me and my brother using gift deed. I have now built apartment alone with 100% investment from my side. My brother do not have capacity to invest. After construction there are 8 flats. My brother and I had mutual agreement that 2 flats will be given to him and 6 will be kept with myself. Since he hasn’t invested any amount he is also OK. Now I want the land to be proportionally distributed to secure the land title against my flats. Means I will have to own 75% of land instead of 50% which is in proportion to 6 flats. Which deed to preferred out of gift deed, or relinquishment deed or sales deed. Property is located in Chinchwad maharastra.
29 May 2020
I opine though you have invested 100% investment, your father gifted to you both and hence you both have equal rights over the land. So it is better to get a relinquishment deed from your brother in favour of you. The Stamp duty shall be levied at Rs.5% on the Market value of his 25% share.
30 May 2020
I slightly differ with the opinion of some of the experts that the cheaper mode should be applied. Every document/mode has its separate consequences. Gift-deed is a mode which ends all coming disputes.