Fee to re- register a property once registered to another's name


I belong to a Hindu family. Due to some issues I buy a property in my friend name by taking a bank loan in his name now I want to register the property in my name so will I have re-registered it by paying the registration charges or else some other alternative ways are there. Please suggest.


Answers (2)

Hello
as ur queries concern you have to do sale deed with consideration
pay proper stamp duty and registration fees as per stamp act and registration act
do register with the office of sub registrar of ur area


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Your friend can gift the property to you for which a gift deed will have to be executed. A stamp duty of 2% of market value and registration fee of 1% of market value will have to be paid. Plus lawyer fee for drafting gift deed. If you want to avoid all these charges then you can ask your friend to make a Will and bequeath or gift the property in your favour. But this Will has to be proved in court. For that you will again have to incur court fees and other incidental expenses. Also there may be a risk of any legal heir of your friend making a claim and objecting the Will in which event the property will be locked. So it's better you go for a gift deed and get property transferred in your name at present itself.

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