Re-registration & re-stamp duty is must.
naresh lalchand israni
(Querist) 13 December 2015
This query is : Resolved
Dear Sir,
My blood related elder brother,1st owner & myself, 2nd Owner, co-owners of a flat situated in Nerul, Navi Mumbai, Maharashtra. The said flat is registered in our names and the stamp duty has been paid to the CIDCO, Govt. Authorities.
Now my said blood related elder brother wants to gift me his 50% share of the said flat so that I can become full & absolute owner of the said flat.
Our gift deed is ready and my query is that whether the said gift deed of the said flat is to be re-registered with the CIDCO, Govt. Authorities and also if I have to pay the stamp duty once again for executing the said gift deed ?
Devajyoti Barman
(Expert) 13 December 2015
Yes stamp duty is to be paid for transferring half share in the flat.
Once that is done you have to inform the CIDCO about your full ownership over the property so they make necessary corrections in their register to remove the name of your brother.
Rajendra K Goyal
(Expert) 14 December 2015
Get the registered gift deed in your favor from your brother and get it noted in CIDCO.
K.S.Srinivas
(Expert) 17 December 2015
1. Registration of gift deed shall be done as per the provisions of the Registration Act, 1908.
2. Inform CIDCO about the same and request them for making an entry for your full ownership.
3. In Maharasthra, no stamp duty required for registration of gift deed between blood relatives. Find a copy of gazete notification from the following link:-
http://igrmaharashtra.gov.in/pdf/GazetteSearch.pdf
T. Kalaiselvan, Advocate
(Expert) 24 December 2015
I concur with the view of expert Mr. Srinivas. In Maharashtra no stamp duty is required to be paid for transfer of properties within blood relations.
Hemant Agarwal
(Expert) 29 February 2016
1. CIDCO "NOC" is required to conduct "Gift Deed".
2. CIDCO premium charges for transfer, shall be payable.
3) W.e.f. April-2015, Gift Deed in Maharashtra shall attract Stamp Duty of Rs. 500/- (flat) applicable for certain blood relations. NOTHING is totally exempted.
4) Gift Deed Registration is mandatory (costing a maximum of 30,000/-). NOT exempted
5) Consequent mutation on CIDCO records is mandatory, annexed with above documents.
Keep Smiling .... Hemant Agarwal
http://www.maharashtra-society-help-forum.com
