Hi,
I am married and we provided advance for a property in coimbatore, tamilnadu in 2007. Since I moved out of india, the property was registered in my parents name(father and mother) in 2008..Now the construction is over and when I try to get the loan bank informed me that since my father is a retired, the loan can go agsinst my name as an applicant and they will include my father as a co-applicant and disburse the remaing amount.
I want to get this property transferred to my name and since we are taking the loan, I beleive the gift deed can executed only after I settle alll the loan amount. My question is
1. Will the gift deed can be executed after that?
2. If yes, how much we end up in paying as per TN govt rules and regulations
3. Do we have any other complications in executing the gift deed.
4. Will the property value will be considered while executing the gif tdeed?
It would be great if you could please respond to my above queries.
Thanks,
Vinoth
