Gift new flat to sister before 3 years of aggreement
tushar
(Querist) 09 August 2012
This query is : Resolved
good day sir,
i want to gift flat to my sister.
i bought flat from builder in year 2010.
is there any clause in property law so that we can avoid paying high stamp duty?
otherwise as am gifting to my sister it will be duplication of stamp duty as we are from same family..
from surfing i found following data,,,,
In case of Bombay Stamp Act where investor goes in agreement with the builder under this sub-clause 5(g-a)(ii) benefits are given to investors who sell their units within a period of 3 years. In such a case, for the sale by the investor, the amount of stamp duty paid by the investor is set off against the stamp duty payable by the subsequent Purchaser, though the minimum payable by much Purchaser shall be Rs.1 000.
plaese asist..
Devajyoti Barman
(Expert) 09 August 2012
If your sister is married she would not be considered as family member and hence you have to pay full stamp duty.
Raj Kumar Makkad
(Expert) 10 August 2012
If the conveyance deed has not been executed from the builder in your name then get inserted name of your sister by providing the family transfer application etc. and then directly get the CD in the name of your sister otherwise there is no other scope but to pay full stamp duty on gift deed. You may also make a will but that is highly risky game.
