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Ashok (edp )     27 December 2016

Transfer of plot in blood relation

My mom has property in pune. Actual money was paid by me i.e. son. Just to make her happy, we did property purchase under her name. Now plan is to construct the house and we realised that loan connot be made under my name as property is under her. property cost is around 12-15L.

So my question is 1)  So how much it will cost me to transfer the land to my name. 2) Will I get any benefit since its blood relation.

3) any docs list will be helpful. Its not NA plot.


 7 Replies

saravanan s (legal advisor)     27 December 2016

You can ask her to gift the property to you by means of a registered gift deed.if it's made with in blood relatives the stamp duty might be less but it varies from state to state
1 Like

G.L.N. Prasad (Retired employee.)     28 December 2016

You can also get relinquishment  deed of her rights from her, and see to that you have infact paid consideration and the property was named after her out of respect and the entire consideration was paid by you and she is not having any source of income to purchase on her own.

1 Like

Kishor Mehta (CEO)     28 December 2016

Sir, In Maharashtra, gift to a blood relation attracts Rs.500/- as stamp duty and minimal registration charge. You may request your mother to execute a gift deed in your favor. Good luck, Kishor Mehta
1 Like

Ms.Usha Kapoor (CEO)     28 December 2016

Tell her to  relinquish her right, title and interesrt through a registered relinquishment deed in your favour. In the alternative tell her to execute  a gift deed mentioning clearly donor giving and donee accepting gift deed and register it. But   it is taxable in the hansds of the donor if it is immovable property and not the recipient.If you appreciate this answer please give me a like on my profile.

1 Like

Ashok (edp )     28 December 2016

Could you please explain below part more in details. 

"But   it is taxable in the hansds of the donor if it is immovable property and not the recipient."

This property purchased in 2011. If donor is gifting it to me and If its taxable to donor then what tax will be charged to the donor, Will it be on the market rate and what percentage will it be. Donor is senior Citizen

Ms.Usha Kapoor (CEO)     28 December 2016

From 2005 Incomne tax law has been changed. Earliuer  for immovable property also exemption was applicable  no tax was charged.Now for immovalb eproperty tax is  charged.Please read the following:


However, there are certain circumstances under which a gift (including an immovable property) will not be subject to income tax. One such exception is when the value of the property as assessed for stamp duty purposes does not exceed R50,000. It is pertinent to note that if an immovable property is acquired for a consideration that is less than the stamp duty value of the property and the difference is more than R50,000, such difference will be considered to be a gift received by the purchaser and taxed accordingly.

Further, if the immovable property is received as a gift under the following circumstances, it will not be subject to income tax in the hands of the recipient: They are gift received from a relative, received on marriage, under a will, by way of inheritance, from a local authority, gift received from any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in section 10(23C) and gift received from any trust or institution registered u/s 12AA.

Gift tax is paid on  the tax slab you fall in.

Ms.Usha Kapoor (CEO)     28 December 2016

However any amount paid to spouse with out any will attract clubbing provisions and the income accrued on the gifts received will be clubbed with the person who gifted the same.

mmovable Property– As per changes by Finance Act 2013 any immovable property received by an Individual or HUF, for a consideration lower than stamp duty value of the immovable property by an amount exceeding Rs 50000, then the difference between stamp duty value and the consideration or purchase price will be taxed in hands of the buyer

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