Gifting house property to nephew.

821 votes

relationship cannot be counted under blood relationship for gifting the property the percentage required for a property valuation of less than rupees one crore is 6% stamp duty one person registration fees and for more than one crore 7% stamp duty one person registration fees for further details you can contact are the provided contact details I shall be glad to help you out

Advocate Rupsa Mukherjee LawRato

955 votes

Hi ……..gift deed must be registered under the registration Act in West Bengal. While, gifting a property to someone in blood relation in Kolkata, you need to pay stamp duty at 0.5% of total valuation of property and registration charges of 1.2% of total property valuation. Whether the relationship will be considered to be a family member or not shall be determined by the Register office of the respective jurisdiction. If the relationship is considered to be non family member, the parties shall have to bear the cost of stamp duties and registration fees in gift deed  as same as the registration of Sale deed.

Regards

Palash Das

(Advocate)

LawRato LawRato