Gift deed of an underconstruction property

The owner can gift.

Let your able counsel that has examined all dcos on record opine finally and draft a suitable deed that you may sign with builder aw well.

Dear Sir,

Thanks for your prompt reply. However one local lawyer whom I had consulted few days back, debates that an under construction property if gifted before having the  possession of the flat would be termed Invalid. I also found similar views on the internet

Kindly advise

Thanks again for your guidance

Ravi

 

 

 

You have posted :

>>> In your first post that : "I have a bought a flat with a builder and the given property has already been registered in my name"

 

>>> In your second post that  "However one local lawyer whom I had consulted few days back, debates that an under construction property if gifted before having the  possession of the flat would be termed Invalid. I also found similar views on the internet'

 

Both the posts are diferent.

If your first post is true fact then :  being owner you can sell/gift. You should be at liberty to dispose the  property ( sell/gift etc) even if possession has not been delivered to you. 

 

If your second post is true fact then : you might have entered into agreement with builder for purchase of flat and there might be clause relating to sale of flat/transfer rights, before delivery of possession. If yes work on such clause. The builder may charge the transfer charges. You may have to obtain consent of the builder.

Since you have posted that you have paid the stamp duty and registration charges then settlement/sale in favor of your father may be an economical option than gift. You may check on it at your end.

 

OR it is so that you have attained the membership and might be having the rights to nominate.

 

All said and done the counsel that has examined all docs on record can advise you the best.

 

 

 

Hi, I apologize if i have not made myself clear, however I dont understand how both the posts can be termed different. As mentioned earlier, I have already registered the property in my name & paid the required Stamp Duty and Registration Charges. Like I said for some personal reasons I wish to gift the property to my father on his birthday. Possession of the said flat is expected not sooner than end of this year. Am I allowed to gift the property to my dad even if I dont have the possession of the flat. I am confused because one advocate suggested that it wont be possible for an under construction property. I will have to wait till I get the possession of the flat. I also read some similar views on some websites that is why I am looking for an expert advice Kindly revert Thanks Ravi

The main criteria for gifting an immovable property is "handing over the physical possession of the said property to the donee by the donor".

In your case, you yourself do not have the possession.

You may also go thru:

https://www.lawyersclubindia.com/experts/gift-deed-for-house-underconstruction-491001.asp#.VxwCYNQrLIU

Dear Sirs

Unfortunately the replies received still doesnt give me the confirm clarity or Yes, whether I can Gift the given under construction property which is registered in my name , to my father before the possession of the flat?

Thanks

Ravi

 

You may consult and engage a local lawyer specializing in such matters.

Hi,

I have almost similar question.

 

 I have puchased a property in name of my mother and my  sister in up,the roperty is under construction and under posession of builder.

all the payment is made by me most of time by cheque, it was self funded property. Now i am looking for transfer/name change into my name.

Can anybody advcie how does it take place, the builder first said it would be a name change for some documents are to be submitted, later he said this is a transfer case for which also some documents are to be submitted.

So I prepared document for that and given to them ,now builder is saying you need to pay x% (aroound Rs. 97000) fee as Admin/Transfer fee on it.

Can you please advvice is there any cost with blood relationship transfer of property(under construction) , can builder do such extortion/exploitation in name of transfer/admin fee.

Pls note no money is involve in transfer the flat.

Is there no law that say blood relation transfer is cost free for under construction property also.

I know some HC/SC judgement and law says property transfer is free/minimum charge (differ state to state) with in blood relation if it is registered.

Thanks, Jitendra

Hi,

I have almost similar question.

 

 I have puchased a property in name of my mother and my  sister in up,the roperty is under construction and under posession of builder.

all the payment is made by me most of time by cheque, it was self funded property. Now i am looking for transfer/name change into my name.

Can anybody advcie how does it take place, the builder first said it would be a name change for some documents are to be submitted, later he said this is a transfer case for which also some documents are to be submitted.

So I prepared document for that and given to them ,now builder is saying you need to pay x% (aroound Rs. 97000) fee as Admin/Transfer fee on it.

Can you please advvice is there any cost with blood relationship transfer of property(under construction) , can builder do such extortion/exploitation in name of transfer/admin fee.

Pls note no money is involve in transfer the flat.

Is there no law that say blood relation transfer is cost free for under construction property also.

I know some HC/SC judgement and law says property transfer is free/minimum charge (differ state to state) with in blood relation if it is registered.

Thanks, Jitendra

Show the agreement signed with builder to an  able counsel.

The waiver in blood relation is by state government.