deed of gift
Querist :
Anonymous
(Querist) 28 November 2010
This query is : Resolved
what are the charges for deed of gift of a property in ghatkopar from mother to daughter? can it be done in chembur registration office? how much time it takes?
R.Ramachandran
(Expert) 28 November 2010
The Gift Deed is required to be compulsorily registered. Stamp duty would be as applicable to the conveyance on the value of the property.
The other way of getting the property from mother to daughter would be through WILL. Stamp paper involved for Registration would not be very nominal. HOWEVER, the Will would take effect only after the death of the mother.
Both GIFT and WILL Registration will not take much time. Once the execution is signed by your mother and submitted to the Sub-Registrar's Office concerned, the registered Gift Deed or Will should become available maximum within a week or so.
adv. rajeev ( rajoo )
(Expert) 29 November 2010
Gift is OK. You have to pay the fees according to the state stamp act. Now it is on line regn., so immediately after registration you will get regd., gift deed. You can get the possession immediately as per the gift deed.
Kirti Kar Tripathi
(Expert) 29 November 2010
Though in gift deed, there is no consideration, yet the deed requires stamp duty according to the valuation of the property on the basis of market rate or prevailing rate. in case of an immovable property,the general rule the stamp duty depends on circle rate of the area as notified by the State Government. In case of consideration is higher than the circle rate, the Stamp duty is payable on the basis of consideration. As regard to time in registration is concerned, it can be registered on the same day, when it is presented for registration.
Arun Kumar Bhagat
(Expert) 05 December 2010
In case of mother-daughter it is .5% of the market value.
