Chennai flat legal heir question

You can do the partition deed among yourselves.

The stamp duty will be 1% on the total guideline value and the maximum stamp duty will be Rs 25,000 per person. If your property value is more than 10 crore also, the stamp duty per person will be Rs 25,000.

For the partition deed, the maximum stamp duty is Rs 25,000.

If it’s Sale Deed the stamp duty is 8% on the Guide Line Value. 

Mr. Shanmughasundaram,

Thank you for your response. My brother and I wish to remain co-owners for the time being (we have the option of settling the ownership in the future). I am unclear on what a partition deed is. Could you please clarify the purpose of a partition deed? Also, I have heard that stamp duty is supposed to go up soon in Tamilnadu. Could you give me your opinion on this?

A partition deed is executed to divide property among family members. The partition deed should be executed on a stamp paper and drafted in a clear and unambiguous manner. The share of each person should be clearly and explicitly specified. Partition deed creates new owners of property and needs to be registered at the office of the sub-registrar to give it a legal and binding effect. 

If it's partition deed no need to worry about the stamp paper cost, only in the year of 2011, our government has increased the guideline values. 

Thanks again for your advice. I was being told that the stamp duty was going to go up in Tamilnadu soon. However, I checked some more and found that the maximum charge for a partition deed among family members was recently increased in Oct 2013 to Rs. 25,000 as you mentioned. The old maximum charge was Rs. 10,000.

Is there a limitation on who is a family member? For example, if my brother wanted to add his wife to the partition deed, would she qualify as a family member (even though she is not a blood relative)?

Thanks