Property is jointly owned by brother & father in Maharashtra in a co-operative society located under Gram Panchayat. I am not a co-owner. They wish to transfer it to me.
I understand that there are two ways it could be done.
1. Gift deed (Stamp Duty = Rs.10 for every Rs.500 of the govt evaluated market value, Registration = 1% of market value)
2. Release deed (Stamp Duty = Rs.200, Registration = 1% of market value)
Since I am not a co-owner, is release deed possible?
What are the other mandatory expenses that would be incurred (apart from stamp paper, lawyer fees)?
Transfer fees to society?? If so , how much for each cases?
Any other expenses?
