My mother is holding immovable property in her name and I was a nominee in 2009. We have a cooperative society, having share certificate. In 2009, she removed me as a nominee and entered me as a joint holder. The gift deed was not made at that time. Society entered my name as joint holder and gave me the resolution copy. Now I have following query.
1. Can I make a gift deed now, by paying the stamp duty at applicable rates, so incase in future, if we have to sell the property that will not be any problem.
2. Will there be any penalty if I make a deed now & pay stamp duty at prevaling applicable rates and prevaling property prices as per Jantri.
3. Is it correct that I have to make a gift deed of half of the property price,as I am a joint holder.
4. Can I make a deed of just 10% share, so I have to pay less duty. I am the only son.
Please advise, as I am consufed. Thank you.