Stamp duty on relinquishment deed in mumbai

She is a co-owner and not a co-sharer hence she cannot transfer her share in the property by executing a release deed, instead she can either transfer it by executing a registered gift deed or a registered sale deed. In Mumbai, the stamp duty for a daughter transferring her share of a property to her father through a gift deed is Rs 200, if the property is residential or agricultural. This is a reduced rate applicable to property transfers within the family. The standard stamp duty for gift deeds in Maharashtra is 3% of the property's value, but a lower rate of Rs 200 is applicable for family members. 

Gift deed is the only option for your daughter to transfer her share to you.

Stamp duty is a state subject, consult local sub-registrar / area document writer or lawyer.

Gift deed is best option for her.stamp duty is nominal. 

I have gone through the above replies. I have consulted a local lawyer (the property is a flat under Panvel Municaplity, Navi Mumbai). According to him, we have to pay 4% stamp duty (plus, 1% as registration charges) for registration of the gift deed. Does a flat fall under the definition of resdiential property for the purpose of concessional stamp duty?

Your lawyer may perhaps not knowing the prevailing law in this regard or he is trying to chat you.

In Maharashtra, the stamp duty for transferring a flat from a daughter to her father via a gift deed is typically Rs. 200, regardless of the property's value, if it's considered a gift between close family members. 

This concessional rate applies to transfers between specified relatives, including parents and children. 

Hi, Dear All, 

As per Maharashtra Stamp Act, for Sale Transaction - 7% Stamp Duty for Urban Area 6% for Rural Area, 

For Gift Deed - If Gift in flow i.e. parents to their children in general elders to yongers Stamp Duty shall be Rs.200/- + 1% Local Body Tax + 1% Metro Cess  + Rs. 200/- Registration Charges. ( for Property situated in Urban Area / Municial Area) 

For Gift Deed - If Gift in flow i.e. parents to their children in general elders to yongers Stamp Duty shall be Rs.200/-  + Rs. 200/- Registration Charges. ( for Property situated in Rural Area) 

If Gift is Reversed means from children to parents or within siblings in that case Stamp Duty shall be 5% of the shares value + 1% Registration Charges. ( for Property situated in Urban Area) and for Rural area 3% of the shares value + 1% Registration Charges.

Thank you, Adv Ashok Shekade for bringing out the factual position in this regard. I only wish that these kind of rules should be clearly spelt out by the Registartion authorities of the respective states.