Mukesh (Manager) 13 June 2012
Hi,
I am owning a Flat in New Delhi, which is allotted to me directly by DDA, the flat is mortgadged with a bank and i and my son is co applicant for that laon my son is paying the EMI for the same.
Now i wnat to transfer the title in my son's name kindly guide me which are the best ways and the proceedure,
I have heard about the Will, GPA and Gift deed but have not idea about the tax & the procees kindly guide me with the same.
Thanks
A V Vishal (Advocate) 13 June 2012
Will: Enforceable upon your death, revocable by you anytime in your lifetime, expenses less than Rs.100/-.
GPA : Not Legal
and Gift deed: Best choice......no tax hassles, Stamp duty is minimal and process is less cumbersome, property transferred immediately, however, banker must agree.
Mukesh (Manager) 14 June 2012
Thanks for your guidance,
Kindly let me know approx how much i need to spend for gift deed,
Once again thanks a lot
Mukesh (Manager) 14 June 2012
Dear Sir,
Thanks a lot for your guidance, please let me know approx. how much i need to spend for complete process of gift deed.
Thanks once again
A V Vishal (Advocate) 15 June 2012
I'm from AP so someone from Delhi must answer it or just visit the registry office to know the details
nikhil (advocate) 16 June 2012
see it will depend upon the valuation of asset as it figurout the amount of stmp duty.
Mukesh (Manager) 17 June 2012
sir the cost is approx 11.5 Lakh please let me know waht will be total expense for me.
Thanks
Ramachandran (Advocate) 18 June 2012
Normally the Stamp Duty would be 1% of the guideline value of the property..
Mukesh (Manager) 26 June 2012
Thanks sir,
so if I go for the gift deed I just need to pay 1% or it will be same as sale deed 4% for female and 6% for male.
please advise
Thanks
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