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chandra (uyu)     03 November 2011

Gift deed or something else?

My mother had a revenue site which was occupied by Bangalore Development Authority. Now they are giving alternate site by charging around 4 lacs.

All the formalities are over except for sales deed. Now my mother wants to gift the site to her daughter. The option we have is:

1) Pay registration paper fee of around 30,000 and execute the sale deed in my mother's name. Then immediately transfer to her daughter's name by way of gift deed. But it seems even the gift deed attacts full registration fee similar to Sales deed.

My question is: Is it possible to request Bangalore Development Authority to directly register in my sister's name so that we we can avoid double stamp paper duty?
 



Learning

 6 Replies

kumar t v s (advocate)     03 November 2011

Saving stamp duty is not a good reason to request the BDA to register property in your sisters name.

 

If you can give some other good reason to BDA and if the rules permit may be such registration is possible which will require certain legal formalaties to be complied.

 

Consult the authorities as " Pooch Ne Say Kya Jata Hai" 

1 Like

(Guest)

get the document straightly registered 

1 Like

Bhavna (EA)     28 November 2011

I owned a joint immovale property ( apartment ) in guraon approx 1000 sq feet with my husband. Now we have filed for a mutual divorce and agreed via agreement/settlement mediation doc registered , that i will be paying some money to my husband and he will give his share of his property to me and transfer the same in my name.

I am ready to pay the stamp duty as per law but can you pls guide me whethere it shoudl be a proper sale deed or gift deed? cause i do not want to enter into any tax etc and also want clear title and ownership in the future.......

 

Pls Guide.

 

 

kumar t v s (advocate)     28 November 2011

a joint immovale property- A release deed is to be executed by your husband releasing all his rights in your favour and in consideration you need to pay the value of his share.

 

Stamp duty will be as per the value of property released in your favour i.e. the consideration paid by you.

 

A registered release deed will give you clear title over the entire property. 

Bhavna (EA)     28 November 2011

Thank you Mr. Kumar...Really appreciate your inputs. I have a request :

 

can you pls forward me a sample/template of the release deed which i can seea nd perhaps come back to you ...cause i have checked with many people here and they do not seem to have this.

also, he will be releasing his share of the property , so we will be paying the stamp duty for his share transfer?

 

Looking forward to your revert.

 

regards

 

Bharatkumar (ADVOCATE )     29 November 2011

First u give a application at BDA for cancellation then registration direct other name if BDA is ready otherwise pay double stamp duty. 


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