Gift deed
Sweeta Saili
(Querist) 02 May 2011
This query is : Resolved
Pls tell me what is stamp duty payable on gift deed in Mohal , Punjab. Wat r the registration charges ? Gift deed is to b executed by bother to his sister, both are owner of the vacant land . Brother want to gift /relinquish his 50% share to his sister without consideration.
I hav heard dat there is no provision of relinquishment deed registration in punjab.
Adv. Sunil
(Expert) 03 May 2011
Madam,
You are running in a wrong direction, The advise to execute a GFift is wrong in your present case. Gift is given to the person who is not an owner of a property and vice-versa. Here both are owners so question of Gift does not arise. A Release Deed for relesing her rights or a Surrender Deed for sureendering her rights can be executed and registered.
If surrenderd without Consideration, an amount of Rs. 200 shall be payable as stamp duty and 1% of mareket value or 30,000/- whichever is less is registraion fees.
Feel free to contact to right info: 9819895456 (Bombay)
Sri Vijayan.A
(Expert) 03 May 2011
Release/ Relinquish deed is the right and the only choice in your case.
Regarding Stamp duty and R.Fee, please consult your registration dept of Punjab.
