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What is the stamp duty of making Gift Deed in Mumbai


30-Mar-2023 (In Property Law)
What is the status of stamp duty on gift deed in blood relation Maharashtra required to be paid for the transfer of property without consideration as Gift Deed. from Father / Mother to Son / Daughter? Is it Rs. 200 or has been amended to 3% of the market value? There are contradicting versions about the so-called amendment that was passed to raise from Rs. 200 to 3% of the MV.
Answers (5)

Answer #1
375 votes

In Mumbai, the stamp duty for making a Gift Deed from parents to children depends on the market value of the property or asset being gifted, as determined by the Ready Reckoner rates issued by the Government of Maharashtra. The stamp duty and registration charges for a Gift Deed are governed by the Maharashtra Stamp Act, 1958.

As per the current rates, the stamp duty for making a Gift Deed from parents to children in Mumbai is as follows:

  1. If the market value of the property or asset being gifted is up to Rs. 30 lakhs, the stamp duty is 1% of the market value.

  2. If the market value of the property or asset being gifted is between Rs. 30 lakhs and Rs. 75 lakhs, the stamp duty is Rs. 30,000 plus 2% of the market value exceeding Rs. 30 lakhs.

  3. If the market value of the property or asset being gifted is above Rs. 75 lakhs, the stamp duty is Rs. 1.75 lakhs plus 3% of the market value exceeding Rs. 75 lakhs.


In addition to the stamp duty, registration charges of 1% of the market value of the property or asset being gifted, subject to a maximum of Rs. 30,000, are also applicable. It is important to note that these rates are subject to change, and it is advisable to check the current rates at the time of making a Gift Deed.


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How do I transfer a gift deed from brother to sister?

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What is gift deed in blood relation tax?

A legal document called a gift deed for blood relations is used to transfer property ownership from one family to another, without any exchange of money. This is a common way for parents to pass their assets on to their children, without having to worry about tax or legal implications.

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Answer #2
973 votes
Dear Querist, the decision to hike to stamp duty charges was revoked later. So at present there are five categories for Rs 200/- stamp duty, Husband to wife and vice versa, Parents to children, and Grand parents to grand son, and to deceased son's daughter in law. For all other blood relations you will have to pay stamp duty of 3% on Gift Deed in Mumbai, and rest of Maharashtra there is 1% added duty depending upon municipal corporation.
Regards,
Rakesh V. Misar
Answer #3
799 votes
Stamp duty on gift deed (without consideration ) blood relation i.e.
between father_ mother to son _daughter as per amendment in maharashtra stamp act art 34 stamp duty is 3 percent on government valuation i.e. ready rek..&1 percent registration fee as per valuation or 30000 fix slab

Answer #4
364 votes
Stamp duty on gift deeds in blood relations in Maharashtra may vary depending on the property's value. It is 3% for properties valued under Rs. 20 lakhs, 2% for properties valued between Rs. 20 lakhs and Rs. 50 lakhs, and 5% for properties valued over Rs. 50 lakhs. However, it is important to consult a lawyer in order to understand the exact amount to be paid according to the facts and iscumstances of your case. 

To know more, you may refer to LawRato’s LawGuide on the laws regarding Gifts.
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Answer #5
467 votes
Maharashtra. Stamp Duty: Rs 200 per residential property and agricultural land; 3% for blood relatives. Registration with local authorities is mandatory, along with the submission of valuation certificates and encumbrance certificate.
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Comments by Users

rupesh
There is no clarity in all the lawyer's responses above. Are 200 INR stamp duty charges for the property transfer from mother to son in Mumbai, right?

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