I purchased one house at Pune with my funds and agreement to sale is executed with the builder.Final sale-deed is not executed.Although I have paid the initial contribution out of my own funds and the loan installments are being paid by me,the fact remains that I had kept my wife's name,too as joint owner out of love and affection and to avoid any succession issue after my death.I repeat,final sale-deed is yet to be executed.Now due to administrative inconvinience in claiming House building Allowance from my employer because of house being in joint names,I want to remove the name of my wife for which she has no objection.My advocate has advised me to go for release deed and asked to be prepared for whatever stamp duty becomes payable under Maharashtra State Stamp Act.
My question is:1.Should I go for release deed or gift deed? will it make any difference in stamp-duty? 2.What will be stamp duty in both cases? 3.Does the fact that the property is only at Agreement to Sale level,makes any difference in stamp duty?
