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About Gift deed in close family
02-Jun-2023 (In Property Law)
Hello Sir/Madam,
My uncle wants to gift his flat to my father (both are siblings). Will he have to pay stamp duty on gift deed? Or if my uncle gifts the flat to me ( his nephew), in that condition how much stamp duty has to be paid?
Hello,
First of all where is the property situated? And apart from that
Yes in both the cases the stamp duty along with the registration charges will be applicable.
As per the new rates there will also be an additional metro cess payable by your end
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Adv. Chinnmay S. Shah
Mumbai | 100+ Answers
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Respected sir,
Your uncle and your father are blood relatives so if they executed gift deed then they have to pay stamp duty of 4% of market value of flat along with 1% registration fees and if your uncle gifted flat to you then you have to pay 6% stamp duty of market value of flat and registration fees of 1%.
Helpful?
Adv. Vanita Yogesh Orpe
Mumbai | 50+ Answers
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