Hi,
Total 4 members of our family which are my Father, Mother, Wife and me own a flat of about 20 Lakhs (example). Now my Father wants to relinquish his share in my name.
Is relinquish deed a better option?
Also I had inquired about relinquishment deed charges in nearby registrar office. He says that the total stamp duty would be 5% of his share i.e. (20,00,000 / 4) * 0.05 = Rs. 25,000.
However I cannot afford this much amount. So I want to know a) whether the stamp duty which he calculated is correct? b) Whether I can make relinquishment deed with Notary without registrar which would cost me less than Rs. 1,000.
Please let me now your feedbacks for both the above concerns.
