Stamp duty & Registration Charges
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2011
Dear Sir,
There is a flat purchased by my mother in the year 1980 at Dahisar,Mumbai-68.At that time no stampduty were paid,so agreement copy with builder was not registered.My mother is in possession of share certificates and this socity is registered.In short my mother is a bonafied member of society and don't have any outstanding dues payable to society.
Now she wants to transfer this property in the name of two elder brothers.[we are 4brothers and two sisters.]and there is no objection from any brothers or sisters.So please tell me the solutions of following questions.
1]Should it essential first to register this property in the name of my mother?
2]My mother is liable to pay stamp duty and reg.charges?If yes,can she get any kind of depritiation?
3]Can she transfer above property via gift deed?and should it be registered?How much duty will be payable?
4]In preparing and transfering above property signature of any brother or sister will require?
PLEASE HELP ME.
Thanking You!
There is a flat purchased by my mother in the year 1980 at Dahisar,Mumbai-68.At that time no stampduty were paid,so agreement copy with builder was not registered.My mother is in possession of share certificates and this socity is registered.In short my mother is a bonafied member of society and don't have any outstanding dues payable to society.
Now she wants to transfer this property in the name of two elder brothers.[we are 4brothers and two sisters.]and there is no objection from any brothers or sisters.So please tell me the solutions of following questions.
1]Should it essential first to register this property in the name of my mother?
2]My mother is liable to pay stamp duty and reg.charges?If yes,can she get any kind of depritiation?
3]Can she transfer above property via gift deed?and should it be registered?How much duty will be payable?
4]In preparing and transfering above property signature of any brother or sister will require?
PLEASE HELP ME.
Thanking You!
15 July 2011
1]Should it essential first to register this property in the name of my mother?
Why do you feel such a necessity? Is society not transferring the share certificates in the names of your brothers?
Just try.
Due to changes in law, the property is now required to be registered in your mother's name before transfer.
Why do you feel such a necessity? Is society not transferring the share certificates in the names of your brothers?
Just try.
Due to changes in law, the property is now required to be registered in your mother's name before transfer.
15 July 2011
]My mother is liable to pay stamp duty and reg.charges?If yes,can she get any kind of concession?
The value of Dahisar area is too high. That's why I have written "concession" for "depreciation".
In registration fee only, your mother may get good concession as in our state ,Gujarat ,females have to pay only 250/ -500/ Rs only towards Registration Fee.
The value of Dahisar area is too high. That's why I have written "concession" for "depreciation".
In registration fee only, your mother may get good concession as in our state ,Gujarat ,females have to pay only 250/ -500/ Rs only towards Registration Fee.
15 July 2011
3]Can she transfer above property via gift deed?and should it be registered?How much duty will be payable?
She can gift the property to any of her sons including you. It will require registration. We say it " Bakhshish-Nama". Duty is payable according to the valuation of stamp office. I can not say right now the exact percentage. You may enquire there with any advocate nearby you area.
She can gift the property to any of her sons including you. It will require registration. We say it " Bakhshish-Nama". Duty is payable according to the valuation of stamp office. I can not say right now the exact percentage. You may enquire there with any advocate nearby you area.
15 July 2011
4]In preparing and transfering above property signature of any brother or sister will require?
As you have mentioned that the property has been acquired by mother. It is her personal property and she can give it to any body.
Signature of witnesses will be required only. Who may be any one like me.
As you have mentioned that the property has been acquired by mother. It is her personal property and she can give it to any body.
Signature of witnesses will be required only. Who may be any one like me.
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