Prabhas Saxena (Member) 02 January 2020
Real Soul.... (LEGAL) 02 January 2020
you mean to say monetary consederation,even if property is transferred out of love and effection ny way of a gift deed ,that attacrts the relevant stamp duty as per the valuation and assesment.; i think 1% of the market value of the property.
That is cheaper and or if the property is owned by the lady she can make a will deed with no stanp duty ,but gift deed conifers better title that too during the life time,where as will is implemented aftet the death.
kavksatyanarayana (subregistrar/supdt.(retired)) 02 January 2020
As per schedule 1a of IS Act of Madhya Pradesh, 2015 the stamp duty for gift to family members (father, mother, son, daughter, brother and sister) is 2.5% on the value of Market value of the property.