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Kirthiga Sr   06 June 2021

Gift deed to spouse in Tamil Nadu

What is the stamp duty and registration charges when gifting a property to spouse in Tamil Nadu? Is there any way to reduce it?


Learning

 4 Replies

VIPIN RANA (ADVOCATE)     07 June 2021

The Stamp Duty is 7% of the market value of the property and  Registration Fee is  4% of the market value of the property. However, can be opt for settlement deed depending on the case.  In Tamil Nadu, the Stamp Duty for a Settlement Deed in favour of family members is 1% (One Percent) on the market value of the property subject to maximum of Rs.25,000/- and the Registration Fee is similarly 1% (One Percent) on the market value of the property subject to maximum of Rs.4,000/-. Settlement deed comes within the purview of family members

Dr J C Vashista (Advocate)     07 June 2021

Stamp duty is a State subject.

It would be appropriate to consult and engage a local prudent lawyer for appreciation of facts / documents, professional advise and necessary proceeding.

Sankaranarayanan (Advocate)     07 June 2021

Originally posted by : VIPIN RANA

The Stamp Duty is 7% of the market value of the property and  Registration Fee is  4% of the market value of the property. However, can be opt for settlement deed depending on the case.  In Tamil Nadu, the Stamp Duty for a Settlement Deed in favour of family members is 1% (One Percent) on the market value of the property subject to maximum of Rs.25,000/- and the Registration Fee is similarly 1% (One Percent) on the market value of the property subject to maximum of Rs.4,000/-. Settlement deed comes within the purview of family members

absolutely correct. opt answer given by learned friend Mr.Vipin Rana. i do endorse his reply

 

T. Kalaiselvan, Advocate (Advocate)     07 June 2021

The stamp duty for executing a registered gift duty would be 7%  and the registration charges is 4% of the value of the property to be registered.

In the past Industry body like CREDAI  have made representation to the state government to reduce the stamp duty at least temporarily owing to the flood calamities, whereas the state government never took any steps to reduce the same so far. 

The stamp duty and registration charges remain the same for men, women and joint buyers in Tamil Nadu.

Alternately you can go for settlement deed which involves lesser stamp duty and the registration charges. 


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