Dear Experts,
Our spinster sister owned a flat in a CHS in Mumbai.
She expired intestate. She had 4 brothers, who are now the legal heirs. The 3 brothers are willing to give their consent (NOC/family settlement affidavit) stating that they are agreeable to my transferring the flat in my name ( I am one of the 4 brothers & I continue to live in the said flat ever since my sister's death ).
I am told that since there is no monetary compensation involved in the above documents, under article 58 (a) of the Stamp Act, I am eligible for concessional stamp duty and Registraton Fee as under:
"stamp duty @ 1 % of property value with the maximum capped at 25,000; and registration fee @ 1 % with a maximum at 4000.
Would some expert let me know if the above is correct. If not, what are the revised rate.
Thanks in advance.
