pawan kumar (jto) 07 June 2012
My father wants to gift me a a house purchased and constructed by him and also registered by his name.
if gift deed is the solution and what stamp duty or registration fees will be applicable which i have to pay.
if there is any other way so that i can take home loan on that house without making any gift deed to avoid any fees applicable.
Adv. Chandrasekhar (Advocate) 07 June 2012
stamp duty and registration charges vary from state to state. The stamp duty on gift deed must be the minimum market value of the property declared by the state government. registration charges are fixed and not huge amounts.
kalidas s. pote (Advocate) 07 June 2012
dear pawan kumar,
For gift deed Stamp Duty is 2% & Registration Fee is 1% of M.V. of property as per Govt.Recknor. If u want to home loan on the said property in ur name then it should transfer in ur name by way of Gift Deed/Sale Deed/Transfer Deed etc. In short ur second question answer is NO other way to get home loan on the said house
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