Value of property in Gift deed

Subrahmanyam (Querist) 16 January 2010 This query is : Resolved
Is it required to quote any valuation of the property in gift deed. Will the valuation, if specified, has any affect if the property has to mortgauged to bank at a later stage..?

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R.R. KRISHNAA (Expert) 16 January 2010
Not necessary. But you can quote it to avoid any future hassles.

A V Vishal (Expert) 16 January 2010
Under the Registration & stamp acts, the value carries an importance since gift of immoveable property is compulsory REGISTRABLE.

Sachin Bhatia (Expert) 22 January 2010
Not necessary.

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