Estimated cost of gift deed in Uttar Pradesh?

755 votes

According to Section 122 of the Transfer of Property Act, 1882, Gift is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person called the donor, to another, called the donee, and accepted by or on behalf of the donee.
The Fee for registration of a Gift Deed in Uttar Pradesh is 2% of such consideration or value, whichever is higher, calculated for the purpose of stamp duty chargeable on the document. However, minimum registration fee that can be charged on a gift is Rs. 100 and maximum Rs. 20,000/-. Stamp duty and transfer duty shall be 6% of the value of the property if the donee is a woman and 7% if the donee is a man.

Advocate Prerna Oberoi LawRato

503 votes

Hello,

Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. Like a sale deed, a gift deed contains details of the property, the transferrer and recipient. But instead of a sale consideration in a sale deed, a gift deed allows you to transfer ownership without any exchange of money. Registering a gift deed with the sub-registrar is mandatory as per section 17 of the Registration Act, 1908, and as per section 123 of the Transfer of Property Act. If you don’t do this, the transfer will be invalid.

Same amount to that of transfer of property through sale deed is applicable to the gift deed as well.

Regards

Advocate Anilesh Tewari LawRato

233 votes

To know the stamp duty on gift deed in blood relation in up you will need to look at Section 122 of the Transfer of Property Act, 1882.  This act has provision for transferring of immovable property through a gift deed.  In Uttar Pradesh, in 2023 there has been significant change and contain stamp duty charged for donations of property made to blood relatives. Under the new scheme, the gift deed stamp duty in UP 2023 has been fixed at a reduced amount of Rs.5, 000.  While under the older system people were generally not getting their properties registered, with the implementation of this new scheme, there was significant increase in registrations.  The scheme was in effect between June 2023 and December 2023 (a period of six months) and it saw more than 2.56 lakh take advantage of the reduced rates. 

You can visit the LawRato website now to calculate stamp duty.  To know more about your gift deed check out the concept of gift deed.  For help with your issue, you can contact me.

Advocate Chikirsha Mohanty LawRato

451 votes

UP reduces stamp duty on family property gifts to Rs 5,000. Earlier, gift deeds attracted 5% stamp duty. The Uttar Pradesh government will set the stamp duty for gift deeds to Rs 5,000 in August 2023. This move is expected to reduce the cost of transferring property among family members.

Advocate Chikirsha Mohanty LawRato