My mother received a MHADA flat in a lottery under journalist category (I think it was 2% reservation). This is in Mumbai The flat is less than 3 yrs old. recently my mother passed away and she willed that flat to me. My sisters have no objection, and we all have signed a family understanding.
I am having a flat in my and my wife's joint name in Mumbai.
1) In such case can I get this flat transferred in my name?
2) Or should I first gift away my flat to my wife or kids (who have just turned adult) or to HUF (I am forming one)? And then proceed for transfer?
3) Also can some one guide me as to procedure to be followed.
4) If I gift this flat to one of three mentioned above, will they have to pay stamp duty and registration charges?
Thanks