I want to gift a property (market value: Rs. 55 lakh) registered under my name & property (market value: Rs. 25 lakh) co-owned with my Son to my 34-yr old daughter living in the UK. Both the properties are located in Pune Maharshtra, India. Can you give me an estimate of cost involved (in INR) related to stamp duty? Also, is there a discount on stamp duty when it comes to transfer blood relatives?
I would also like to mention, the property co-owned with my Son is under a contract with a builder as to 50-50 proceeds. Can I transfer my proceeds/share of this property which is 25% as a gift to my daughter. Please advise what is the procedure.
I'll greatly appreciate a response.
Many Thanks
