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vinay kumar (News reporter)     16 June 2012

How 2 determine value of property for succession certificate

Dear Learned Lawyers,

One of my unmarried Hindu Friend died interstate leaving his Mother & Father as his only Legal Heirs.He has booked a Flat in Delhi & paid full amount of Rs 30 lacs towards cost of flat by mortgaging the property in Bank as per agreement with Builder and taking 25 lacs loan.He had yet to take possession of Flat,& the Flat had not been duly registered in his name.The Builder is asking for  a Succession Certificate from Mother in order to transfer the property in her name ,which she agreed to give.The Mother had approached Bank & Bank is ready to Close the Loan after getting payment of Rs 25 lacs from her & issuing her a NOC/Original Home Loan papers Mortgaged with Bank.

My Question is

1-If she repays the loan,then while applying for succession certificate ,she will have to pay Court Fees on Rs.30 lacs or on Rs.30lacs-Rs.25 lacs=Rs 5 LACS.

2-What is the court fees rates in Delhi & time taken to get succession certificate.

                                                                                                     Thanks & Regards

                                                                                                             Vinay



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