Legal procedure for gifting father's property to son

437 votes

The charges involved in gifting a plot of land in Kerala include:

1. Stamp Duty: Stamp duty is a state tax that is levied on the transaction of gifting the property. The stamp duty charges are based on the market value of the property or the consideration amount, whichever is higher. The stamp duty rates in Kerala are determined by the Kerala Stamp Act, and they may vary based on the location of the property.

2. Registration Fee: Registration fee is charged for registering the gift deed at the Sub-Registrar's office. The registration fee in Kerala is calculated as a percentage of the property's value and is capped at a maximum of Rs. 30,000.

3. Legal Fee: You may also have to pay a legal fee to a lawyer for drafting and registering the gift deed.

4. Other incidental expenses: There may be other incidental expenses such as notary fees, courier charges, and miscellaneous expenses incurred during the registration process.

It is advisable to consult a qualified lawyer or a legal professional to get an accurate estimate of the charges involved in gifting a plot of land to your son in Kerala, India. 

LawRato LawRato

732 votes

In respect of gift transaction within the family, the stamp duty involved is nominal. The local document writer would guide you in the matter

Advocate P Venu LawRato

915 votes

If the execution of the deed by way of gift deed or settlement deed,then the stamp paper charge is Rs.1000 and Registration fees 2% of the fairvalue of the property .

Fair value
air value of land in Kerala is the valuation set by the Kerala Government upon the District, Taluk, Village and RDO. It’s the calculation laid on facilities and transportation growth in that particular District or Taluk. When registering a property the registration charges and the stamp duty are calculated based on the fair value of that particular land. This value is meant to be revised periodically as per market value and fair value and in Kerala.

You can check the fair value
http://igr.kerala.gov.in/fairvaluesearch.aspx

The fairvalue of land shown in the website is the base value per are in all the cases. The 50% increase as per the Gazette Notification SRO No.698/2014 dated 14.11.2014 is to be applied on all the fairvalues in this website. In other words this site contains only the base fairvalues of land and not the enhanced fairvalues

Advocate Ajay NS LawRato