My unmarried Farbror (Father’s Younger Brother) is aged about 52, he don’t have any own heirs to manage his own ancestral property which he got vide a partition deed. Now, he decided to make a settlement deed on my name beacsue i am the only beloved person to him and the care taker. As I am the Nephew to him he likes to do that, but the Local Sub – Registrar is advicing us to make only Sale Deed or Will. "Settlement deed could not be able to do and you have to pay the tax of 8% for the registration and only the blood relative’s only can able to execute settlement deed".
On this matter I need yours advice to proceed. Is it Must to Pay the Stamp Duties for the Guideline Value ? Is there is any way to execute Settlement Deed at the appropriate Charges except 8% stamp Duties on Guideline ?
Need Suggestions and Opinions. Whichever is Possible kindly share the appropriate acts and laws to ask the sub – registrar.