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Stamp duty payable on Release Deed
16-May-2023 (In Property Law)
I need to execute a release deed to transfer my share in brother's family name for flat in Chinchwad, Pune. The flat was originally bought by my father in 1979. Now is stamp duty & registration payable while making the gift deed/release deed as per latest state government policies? If yes then how much stamp duty is payable? Kindly provide your suggestions on same.
In your case RELEASE DEED is applicable , if the property is ancestral I.e.,ur fathers property
To Release your share of inherited ownership right a DEED OF RELEASE has to be executed and registered and through it u can release your ownership rights in favour of your brother
Stamp duty for Release Deed is Rupees Five hundred only and Registration is Rupees Two hundred only
Stamp duty for Gift Deed for sister to brother transfer is three percent of reckoner value , but as these property is an ancestral property RELEASE DEED is applicable in your case
To Release your share of inherited ownership right a DEED OF RELEASE has to be executed and registered and through it u can release your ownership rights in favour of your brother
Stamp duty for Release Deed is Rupees Five hundred only and Registration is Rupees Two hundred only
Stamp duty for Gift Deed for sister to brother transfer is three percent of reckoner value , but as these property is an ancestral property RELEASE DEED is applicable in your case
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Adv. Aniket Nerurkar
Mumbai | 25+ Answers
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This is my response to you:
1. You will need a draft, so accurately drafted that it establishes that you relinquish your rights;
2. Also you will need to pay minimum stamp duty which could be 500 rupees or the prevailing rate at the nearest sub registrar;
3. Registration will be as per usual rate, maximum 30K;
4. Consult a local lawyer and take steps.
1. You will need a draft, so accurately drafted that it establishes that you relinquish your rights;
2. Also you will need to pay minimum stamp duty which could be 500 rupees or the prevailing rate at the nearest sub registrar;
3. Registration will be as per usual rate, maximum 30K;
4. Consult a local lawyer and take steps.
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Adv. Gowaal Padavi
Mumbai | 500+ Answers
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