Stamp Duty and Other Fees for removal of name from residential property in Maharashtra

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Prashant Deshpande (Querist)
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09 April 2023 Me and my brother had purchased one flat in Pune- Maharashtra by taking a housing loan in the joint name. The loan is completely repaid and now we want to sell the flat. Before selling, I would like to remove my name as an owner so that my brother can purchase a new residential flat in his name. There is no dispute and I would like to volutarily transfer it in his name.
How we can execute this so that we can pay minimal stamp duty or fees to Govt

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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09 April 2023 You have to register gift deed for the part of share in the flat to be gifted to your brother.

Prashant Deshpande

Prashant Deshpande (Querist)
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10 April 2023 Thank you sir for the reply....Is it going to be costly or can it be done with Rs 500 stamp paper

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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10 April 2023 For Gift deed given to family members, residential or agricultural property it is just Rs. 200/- otherwise it is 3% of circle rate.

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