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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
Answers (2)

Answer #1
730 votes
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
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Answer #2
810 votes
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.
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