Dharmendra (-) 15 April 2011

Gift Deed for Immovabel Property

Dear Experts,

I am residing in mumbai and the present house is on name of my grant mom (Mother's Mom) and by way of gift she has given the same to my mom. The Gift deed is prepared but not registered. We have not paid stamp duty for the same. The gift deed was made in year of 2001 and the property value today in market @ 40 lacks and original agreement value is 5.50 lacs.

My Questions are:

1. Is Gift Deed valid?

2. What will be registration (Stamp Duty + Others ) Cost?

3. Can we have power of attroney for the same and is any validity for the same.

4. Is registration of Powe of Attroney require?

Reply Follow

5 Replies

Bharatkumar (ADVOCATE ) 16 April 2011

Gift deed is velid and u registered this deed as per today rate and use stamp duty as per today rate. U inquire for that in registrar office.

RAMESH. V.L., Advocate (Advocate) 16 April 2011

if it is not registered means its not a valid gift in the eye of law... stamp duty and Regn fee u should enquire with the concerned sub-registrar's office.... no u can;t execute power of attorney on the said gift deed....

a.manoharan (Advocate 94431 45884 advocatemanoharan@gmail.com) 18 April 2011

Yes. if it is not registered means its not a valid gift as per Registration Act. . Yes enquire about stamp duty and Regn fee with the concerned sub-registrar's office . your grand ma can execute power of attorney on the said property

Dharmendra (-) 19 April 2011

Dear Mr. Manmohan,

Thanks for your reply. I will inquire towards stamp duty and registration charges.

I want to sell property in short span(@ within 1 year) and hence I do not want to spend money on stamp duty and registration. If my grand ma execute a special power of attorney. can we save the money and execute the transaction and is any validity connected with power of attorney?