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Stamp Duty on Gift of Residential Property (Mumbai)
28-Aug-2023 (In Property Law)
What is the stamp duty payable on a gift deed of residential property to be gifted to deceased brother's wife (widow) in August 2019 Mumbai?
Awaiting a response Thank you.
Dear Querist, as per the amendment bought in by Maharashtra Government, stamp duty for gift between husband& wife, father/Mother to son/daughter, grand father to grandsone/granddaughter are at 1% of market value of property. In your case who will gift whom?? Any other blood relation will be 3+1 % and others 5+1%.
Regards,
Rakesh V. Misar
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Adv. Rakesh Misar
Mumbai | 200+ Answers
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This is my response to you:
1. This will incur stamp duty of 5%;
2. This will incur expenses of a regular sale deed;
3. You must discuss more details and then take steps;
4. Consult a local lawyer and take steps.
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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