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What is the registration and stamp duty applicable on release deed
01-Jun-2023 (In Property Law)
I have one apartment(Purchased) in pune on the name of myself and my two sister's. I want to make release deed from my sister with myself,so is there is any legal charges(registration tax and stamp duty) applicable on this transaction in maharashtra. Please suggest solution. thanks, Aniket
YES release deed registration is compulsory. You have to pay Rs
.500 for stamp duty when no consideration is given, with consideration it attract stamp duty as per consideration and you also have to pay appropriate registration fees
.500 for stamp duty when no consideration is given, with consideration it attract stamp duty as per consideration and you also have to pay appropriate registration fees
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Adv. Suraj G Desai
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What is the stamp duty rate in Pune?
The current stamp duty in Pune is 6%. It is divided as follows: Stamp Duty is 4%, Local Body Tax is 1% and Transport Surcharge is also 1%.
Is release deed a transfer of property?
It is important that you understand the legal aspects of a release agreement if you plan to sell your home. The document transfers the ownership of a property from the sellers to the buyer. Both parties must sign the deed for it to be legal. 03-Mar-2023
How much stamp duty on release deed in Maharashtra?
What is the Maharashtra Stamp duty for a Relinquishment deed? If the apartment was transferred to your mother and your name, then you would have to pay a stamp duty of 6 percent. This is composed of 5% stamp duty and 1% metro cess.
What is the fee for relinquishment deed in Pune?
The registration fee is between Rs 100 to Rs 250. Step 4: If the official is satisfied that the deed is valid, it will be registered. A registered relinquishment document will be created in a matter of a week. 18-Oct-2023
Assuming that this is a self acquired property and not ancestral, wherein equal or proportionate consideration has been paid for the property by you and your sisters. A release Deed of such a property would attract a stamp duty of 5% Leviable on the market value of each share of the property. The release Deed has to be mandatorily registered with the Sub-registrar of assurances of that particular area. Alternatively you may want to consider a gift Deed as a more viable option as there are certain concessions on stamp duty payable between family members in Maharashtra.
Please do not hesitate to contact me if you require any further advice.
Please do not hesitate to contact me if you require any further advice.
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