My mother is 74 yrs old widow and very sick. She got a flat in her own name. The flat is not inherited by her. She purchased it from her hard earnd earnings. Now as she is getting old and most of the time not keeping well health wise she wish to make a Gift Deed ( Conditional ) in my name. The condition she wish to mention in the deed is that the said deed will be effective from the date of her death and during her remaining lifetime i shall take care about her physically, socially, financially etc.
Now i asked a senior Officials at our nearest Sub Registry Office at Kolkata that what would be the registration, stamp duty & processing charges for making a conditional gift deed. He told me that it will be all total of 6% of the present market rate of the said flat. He adviced me that i shall convince my mother to make an UNCONDITIONAL GIFT DEED in favour of name. Then the Registration , Stamp Duty & Processing charges will be approx 2.5% of the Present Market rate of the said Flat. But in case of making an Unconditional Gift Deed , I will become the owner of the said Flat form the day The Deed is Executed at the Registry Office even if it is in my Mother Lifetime period . My mother is not interested in making an Unconditional Gift Deed. But the difference of charges to be levied for making a Conditional Gift ( 6%) & Unconditional Gift Deed (2.5%) is huge.
I need the advice of the expert is that how far it is legally justified that the charges for executing a Conditional Gift Deed & Unconditional Gift Deed are so much difference. After all a Gift Deed is a Gift Deed where the Donor is executing the Gift Deed to the Donee out of Love and affection and on his/her own wish. Please advice me.
