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Sourabh Singh   08 September 2023

Registry charges on property received as gift from father and sister

We have a home which was on my mother's name. My mother died some years back. We are two children of our parents me and my sister. So now our home has three owners. My father, my sister and me. Now my sister and my father want to gift their shares in the home to me. So my question is that the registration charges on this transfer would be calculated on the total value of property or on the 2/3 value of the property. 

Suppose total value of property is 20 lakhs. Then I am 1/3rd owner and my father and sister are owner of 2/3 share combined. So that 2/3rd part will be gifted to me. 

So value of property to be gifted will be : 2/3 of 20 lakh

= 13.33 lakh

So registration charges would be 1% of transferable property value i.e 13,333 ₹ . 

Am I correct here?? 

I am from uttar pradesh

Please clarify this doubt 🙏🙏



Learning

 3 Replies

T. Kalaiselvan, Advocate (Advocate)     09 September 2023

The property belonging to your deceased mother is now devolving upon her legal heirs and the other legal heirs want to to relinquishe their rights in the property in your favor.

In the given situation they have to execute a registered release deed relinquishing their rights in the property and if there is no consideration amount involved in this release deed, they need not pay any stamp duty other than the nominal one along with the registration charges.

 

Dr. J C Vashista (Advocate )     09 September 2023

Stamp duty and registration charges is a State subject which differ from a State to another.

In Delhi stamp duty has to be paid as Conveyance Deed besides registration charges.

Consult a local lawyer / document writer or Sub-Registrar.

Shashi Dhara   09 September 2023

For gift deed  among family members is nominal  stamp is enough  don't apply to relavtives on market value. It is better to go to look Adalat and compromise through pre litigation .


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