Romeo G (Associate Manager) 30 September 2009

Re registration of house from my sister

Hi,

We are living in an apartment in chennai.The house is registered in my sisters name and we have purchased t the house on loan from a private bank.

I am currently paying the EMI for the loan by depositing cash in my sisters account but am unable to get any tax exemption. I would like to transfer the home along with the loan to my name.

I would like to know the procedure on how to get the house re-registered in my name ?

Can my sis gift the house to me? and what would be the charges and procedures

Seeking your valuable advice

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4 Replies

adv. rajeev ( rajoo ) (practicing advocate) 30 September 2009

She can gift the house to u. IN karnataka Rs.1000/- is regn., charges if the gift is made to blood relations.

U have to take over the loan also, before doing all things u meet the bank manager and ask them what documents they need.

1 Like

m.kupparaju (Advocate) 30 September 2009

Mr.Rajeev S Vadrali is right, you can avail bank loan by way of Deposit of Title Deeds and this procedures cost you min 0.5% on Loan amount, 0.5% Registration Cost.

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Romeo G (Associate Manager) 30 September 2009

Thanks a ton for your reply Rajeev and Kupparaju......... I will get in touch with my sisters bank and get things sorted out.....

Thank you so much

mamtha (purchase asst) 12 December 2009

My father has a house in hyderabad. he wants to gift a house . i would like to know the registration charges for gifting that. the house is about 130 Sqyds independent house