Gift deed

Yes it is to be registered being immovable property and applicable charges to be paid

It would depend upon the stamp act of your state. Consult a local lawyer or the sub-registrar's office to get the exact amount.

A gift of immovable property can only be made by a registered instrument. A gift of immovable property, which is not registered, is bad in law and cannot pass any title to the done. Documents should be stamped with appropriate non-judicial stamp, be registered as required and attested by two witnesses. Mere delivery of possession without written instrument cannot confer any title.
Registration
A gift of immovable property amounts to its transfer under the Transfer of Property Act. Hence, the gift deed needs to be compulsorily registered with the sub-registrar in the area where the property is situated.
Documents
A copy of the gift deed, title deeds of the property, encumbrance certificate, statement of particulars of the property, its market value and the extract of assessment register of the property must be submitted at the time of registration.
Stamp duty
The stamp duty is calculated as a percentage of the market value of the gifted property and differs from state to state. Such a gift to relatives attracts stamp duty at a lower rate.
Stamp duty on immovable property is 1-8% of the value of property.
If the gift is made to specified relatives, including spouse, parents and siblings, it is not taxable under the Income Tax Act. Rutumbhara www.lawkonect.com 09555 507 507