Transfer of immovable property through gift

Himanshu Agarwal (Querist) 21 March 2022 This query is : Resolved
Dear All,
If Mr X wants to transfer his Immovable property to Blood relation in UTTAR Pradesh.
Can he do on 500 rs stamp paper via gift deed.
OR Stamp DUTY charges also need to pay on it,

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Quick Summary

This discussion clarifies the process of transferring immovable property through a gift deed to a blood relation in Uttar Pradesh. While a gift deed can be executed, it's important to note that stamp duty and registration charges are generally applicable, calculated on the market value or party's value, whichever is higher, at a rate of 2.5% as per UP law. The initial suggestion of using a low-value stamp paper is incorrect; standard legal procedures involving payment of duties must be followed.

Dr J C Vashista (Expert) 22 March 2022
No
Stamp duty and registration charges shall be levied by UP Govt. as per law governing the subjects

Advocate Bhartesh goyal (Expert) 22 March 2022
X has to pay stamp duty and registration charges as per U.P stamps and registration Act.

kavksatyanarayana (Expert) 22 March 2022
Yes. I think that the stamp duty shall be paid on the Market Value or the party's value whichever is higher at Rs.2.5% under Art 36 of the Schedule of UP Stamp rates.

krishna mohan (Expert) 23 March 2022
Any transfer of property will involve registration and hence stamp duty as per rate in force.

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