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How to do Gift Deed to Blood Relative who is studying abroad
08-Aug-2023 (In Documentation Law)
Residential Property is in Mother's name located in Thane want to gift 50% to her 18 yr old daughter, as gift on becoming major. What is the best mechanism to do so. Is registeration of the gift deed required ? If so, Will it attract stamp duty ? For a property that costs 1 cr what would be the charges that need to be paid ? Daughter is studing abroad - under the circumstances how can the gift be done in absence of daughter ? Please advice.
As per your query, the gift deed will need to be registered in order to get the property transfer done.
The daughter will have to be present at the time of the registration of the gift deed as she will be required to sign at the time of registration of deed.
The total amount of registration in Maharashtra for making gift deed is RS.200 and the stamp duty for gifting a property with a market value of Rs.10000000 will be 1% of the total market value.
The daughter will have to be present at the time of the registration of the gift deed as she will be required to sign at the time of registration of deed.
The total amount of registration in Maharashtra for making gift deed is RS.200 and the stamp duty for gifting a property with a market value of Rs.10000000 will be 1% of the total market value.
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Adv. Siddhant Sharma
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