Transfer of flat under SRA scheme

Vijaykumar (Querist) 17 September 2016 This query is : Resolved
Hi, Can my uncle (dad's brother) transfer the SRA flat after 10 years to my dad and whether gift deed can be made ? Please help to understand on this.

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Vijaykumar (Querist) 17 September 2016
If gift deed is allowed what will be the stamp duty and registration charges or if not what is other option.

Vijaykumar (Querist) 18 September 2016
Dear Experts, please revert.
Waiting for the positive response.

Guest (Expert) 18 September 2016
Dear Vijay Kumar,

You may better check the lock-in period, if any prescribed in the lease deed.

You may also need to clarify, whether your dad or is family members are domiciles of the state and don't own a house within BMC limits.

Ms.Usha Kapoor (Expert) 18 September 2016
Registered gift Deed mentioning the fact of your uncle as donor giving away the property out of natural love and affection and son accepting the gift on account of his love and affection to his brother. States like MAHARASHTRA HAVE ABOLISHED STAMP DUTY IF PROPERTY IS GIFTED ON The Deed O GIFT WHEN PROPERTY IS GIFTED AWAY TO CERTAIN SPECIFIED RELATIONS.

Rajendra K Goyal (Expert) 18 September 2016
He can gift if the lock in period, if existed, has expired.

Raj Kumar Makkad (Expert) 18 September 2016
It can be but the stamp duty is to be ascertained locally.

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