Transfer of property in delhi
Ashish
(Querist) 26 November 2017
This query is : Resolved
My father was the sole owner of the house recently had died &in my family me and my mother are only two person left.now my mother wants to transfer this house in my name how should we proceed further.
Ms.Usha Kapoor
(Expert) 26 November 2017
your mother can gift away the property through registered gift deed in your your name. You can save on gift/income tax exemption to specified relations as per IT Act 1961.
Vijay Raj Mahajan
(Expert) 26 November 2017
The mother can give you her share in the property by relinquishment deed duly registered with the Tehsil/SDM office in the district of Delhi where the property is situated. In Delhi you require Surviving member certificate or heir certificate as called in other states, this will be issued from the Revenue Department, Govt. of NCT of Delhi. You can get the mutation done in the Municipal records of the district by bringing your name replacing your father's name in those records. You can even get name amended in the electricity board records by replacing your name with your father's name. All these amendments will require the original death certificate of your father, the copy of the relinquishment deed of your mother, Surviving members certificate issued by Govt. of NCT of Delhi , Aadhar card has been made compulsory for most departmental jobs in Delhi so you must that too with you.
Ms.Usha Kapoor
(Expert) 26 November 2017
Both Gift deed ad Relinquishment deed are valid transfers. IN case of gift deeds we can claim tax savings. Whereas if it is a registered Relinquishment deed no gift/It tax savings. So gift tax benefit is better in case o gift to specified relatives under IT law.
Vijay Raj Mahajan
(Expert) 26 November 2017
For Gift Deed in Delhi please note you will have to get the property valued by approved valuer who will charge his fee as well pay so much as Stamp Duty, registration amount etc.:
1. The property being gifted has to be valued by an approved valuer.
2. Stamp duty and transfer duty @ 4% if the donee is a woman and @ 6% if the donee is a man. Registration fee is 1% of the total value+Rs.100/- pasting charges.
All this information is collected from the website of the Govt. of NCT Delhi only.
Ms.Usha Kapoor
(Expert) 26 November 2017
ANYWAY IN CASE OF RELINQUISHMENT DEED STILL GIFT TAX IS PAYABLE. WHEREAS IN CASE OF GIFT MANY STATES HAVE ALTOGETHER ABOLISHED STAMP DUTY OR COLLECTING STAMP DUTY AT CONCESSIONAL RATES.IN CASES OF GIFTS AMONG THE 9 SPECIFIED RELATIVES.
Ms.Usha Kapoor
(Expert) 26 November 2017
if YOU APPRECIATE MY REPLY PLEASE GIVE ME LIKES.
Dr J C Vashista
(Expert) 27 November 2017
I fully agree with expert Mr. Vijay Raj Mahajan, whereas Ms. Usha Kapoor has totally misconception and absolutely wrong and misleading view qua stamp duty + registration charges on gift deed vis-a-vis relinquishment deed for transfer of properties in Delhi.
Dr J C Vashista
(Expert) 27 November 2017
@ Ashish,
Beware of impersonating experts responding the queries FREE OF COST on this platform.
Best wishes.
R.Ramachandran
(Expert) 27 November 2017
Dear Mr. Ashish,
1. As very correctly advised by Mr. Vijay Raj Mahajan, first obtain the legal heir/Surviving Member certificate from the Revenue Department, Govt. of NCT.
2. Even though your mother may want her share in the property to be transferred in your name, she would be well advised NOT TO DO SO, as to take care of her interests, to keep her share in the property with herself till her last days.
3. In any case, if you people are determined to have the property transferred in your name, then the Relinquishment Deed which Mr. Vijay Raj Mahajan suggested is the best way. That is highly cost effective. NO INCOME TAX EFFECT at all whatsoever either on your mother or on you, if you go through RELINQUISHMENT process.
4. GIFT DEED is not at all a good option, as it will involve unnecessary STAMP Duty.
Ashish
(Querist) 27 November 2017
In case i dont go throgh rdeed process and simply mutate the property in muncipal records then what will be the fate after mothers death as i wil be the only one left in family.
P. Venu
(Expert) 27 November 2017
The mother needs to execute a relinquishment deed. Mere mutation in the revenue or municipal records is of new consequence as far as title to the property is concerned.
Dr J C Vashista
(Expert) 28 November 2017
Being a professional we have given you best of the advise FREE OF COST, as a measure of social service on this platform.
It is your choice to accept or reject our opinion and advise.
Dr J C Vashista
(Expert) 28 November 2017
Some impersonating expert is waiting to collect and accumulate another "dislike" from the author, which I am sure the "ungrateful" person shall NOT oblige.
Kumar Doab
(Expert) 04 December 2017
Same Query;
http://www.lawyersclubindia.com/experts/Property-related-664051.asp
Kumar Doab
(Expert) 04 December 2017
In case it is some other property and NO valid WILL exists for this property your mother can relinquish her share in your favor and register the deed.
