Hi All,
Since i had already had self acquired property in my name, Additionally I had purchased 2 adjacent residential sites 10years back, and got it registered in the name of two of my younger sisters. Now I wish to take back half portion of each sites from each sister, leaving remaining portion for them to enjoy(which they agreed with great joy). I had been suggested to go for gift deed. Now I have following questions
1. Can i ask both of my sisters to execute gift deed for the both the sites (adjacent to each site , form one single big site) both signing in one single deed. Will such execution ? reduce legal, sub-registrar miscellaneous charges, stamp duty charges? Coz I dont want to maintain two property document for one single large site, two property tax, etc., Please advise what are the impact in longterm holding and maitaining the property in terms of legal as well as taxation pupose.
