Related to deed of partition

Querist : Anonymous (Querist) 30 October 2017 This query is : Resolved
Hello Sir,

This is related to joint property of my father and 2 uncles. As per the PR card the property belongs to all 3 brothers equally. This property is in Nanded, Maharashtra.

Now we are constructing 3 floor building so that each brother will have its own floor.
The motive here is to have register each floor separately and assign one floor to one brother and all other reaming space like ground floor (parking), terrace and common space on all 3 brothers. So, that someone can rent/sale/mortgage his floor without other’s permission and without affecting common and others share/portion.

I had read lot of blocks and found that we should go with mutual partition deed which will solve this issue.

But my question is, do we need to pay stamp duty (2%) and registration charges (1%) on market value of the property or there is another option for this case which will save our money?

Your help and suggestions are welcome. :)

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Ms.Usha Kapoor (Expert) 01 November 2017
YOU NEED OR ALL 3 BOTHERS NEED TO ENTER INTO A MUTUAL PARTITION DEED WITH DEMARCATION OF COMMON AREAS ON PAYMENT OF PROPER STAMP DUTY AND GET IT REGISTERED.

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Querist : Anonymous (Querist) 02 November 2017
Thanks Usha Madam for your advice.
Somewhere I had read if the partition is in blood relational, no need to pay stamp duty and registration. This can be done on 500/1000 bond paper. Is this correct? And if so, can we use this document to register each floor separately to get different PR card for each one of the owner?

Rajendra K Goyal (Expert) 02 November 2017
No advice to an author who is anonymous.

You can post the query in fresh thread with your identity and material facts.

Guest (Expert) 02 November 2017
Well Advised by Ms.Usha Kapoor

Guest (Expert) 02 November 2017
Some one who insults the Querist as Anonymous should define Anonymous

Guest (Expert) 02 November 2017
Soon it would be followed by the Acceptance of their Guilt

Kumar Doab (Expert) 02 November 2017
AQ………….so NO reply…………..

Kumar Doab (Expert) 02 November 2017
Pls post with your ID and you can get many replies……………

Querist : Anonymous (Querist) 03 November 2017
Thanks everyone for your valuable reply.

Ms.Usha Kapoor (Expert) 03 November 2017
What you heard is wrong. In case of registered gft deed Stsate of Maharashtrsa etc have aotogether abolshed stamduty and regstration charges are also less. There will be no gift/jncome tax bioth for the donor and donee if they are in specified relatives list.So instead of partition you gift each floor to one another without attracting stamp duty or income tax or payment of less registration charges.IN some states full stamp duty and registration charges are leviied. Go for Mutual partition deed only/.

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Rajendra K Goyal (Expert) 03 November 2017
N.J.S.Rajkumar alias narasimha,

Seems you do not know what is the definition and meaning of insult.

Refer dictionary or ask from some other fellow..

Rajendra K Goyal (Expert) 03 November 2017
N.J.S.Rajkumar alias narasimha

If do not know the meaning of insult consult dictionary. Do not use in wrong reference / place.

Rajendra K Goyal (Expert) 03 November 2017
N.J.S.Rajkumar alias narasimha,

More vague / unwarranted / irrelevant / posts from you.

Good attempt / approach to increase your nos. of replied queries by adopting malpractice.