What is the procedure for gift deed for land or flat

832 votes

Hello,
For Gift Deed of Land/Flat( Immovable Property)- duly stamped Gift Deed is required to be prepared. Same to be executed by parties along with two witnesses and same shall be registered before Sub- Registrar.

Advocate Amruta Mehendale LawRato

914 votes

In maharashtra state if you want to transfer the property in blood relationship then no stamp duty is applicable. Only Rs. 500/- stamp paper & 1 % LBT is applicable for it.For gift deed u requires original sale deed of that propertytwo witnesses n there ID proof.....n stamp duty as per the government norms ..
For more information give PM.

Advocate Bharat Pandirao Pawar LawRato

686 votes

you can gift the property to your relatives or outsider through gift deed. if its within family than stamp duty will be 200 if its to other family members as defined in Stamp Act then stamp duty will be 2% ..if its to outsider then stamp duty will be 5% of market value . gift deed is required to be registered.

Advocate Dipika Jigar Panchmatia LawRato

992 votes

Dear Client,
A gift of immovable property can be done by any person who has property acquired by him/her out of his/her own income and the property stands in his/her name in the revenue records. Such gift has to be made by an instrument, and has to be compulsorily registered in the office of Sub Registrar of Assurances, by paying the proper stamp duty and registration fees. Acceptance by the person in whose favour it is made is equally important, hence his signature in the gift deed is equally important.

Advocate Rozario John LawRato