zero gift deed property registration in blood relations

697 votes

Absolutely your Grand Mother can Gift (without consideration)the said flat to her son, As per Art. 34 of Maharashtra Stamp Act, if the Residential or Agricultural property is gifted to son, the amount of duty shall be Rs.200/- (Rupees two hundred only) + 1% cess/LBT (where ever applicable) and also have to pay Registration Fees of Rs. 200/- (Rupees two hundred only)

Advocate Dinesh N. Shah LawRato

554 votes

This is my response to you:
1. Your grandmother can transfer the property;
2. She will be required to pay stamp duty, which will be less than Rs.1000/-
3. The registration charges will have to be paid to the Registrar;
4. So engage services of a lawyer, draft the gift deed and effectively transfer the title.

Advocate Gowaal Padavi LawRato

647 votes

As per your query
I want to know zero gift deed property registration in blood relations what are the Process, Our property was built up in 1975 by Bombay Port Trust my Grand-Father was working in Bombay Port Trust, so my Grand-Father got this Flat from Bombay Port Trust in 1975, so that time their was no stamp duty registration Process, But the papers was got to my Grand-Father of this Flat was like, Share Certificate, Allotment letter for Bombay Port Trust Members and others Papers of Property as Owner Grand-Father Names. After Grand-Father death the Owner Ship was transfer from Grand-Father to my Grand-Mother in the Same Paper Share Certificate and in Society in 1992. But my Grand-Mother has Nominated this Flat to her Son in 2006. Now She want to do gift deed this property to her Son, So what is Process we Heard that their is New Law come in 2015 or 2016 of zero gift deed property registration in blood relations. So we want to Know about this

New law still not in implementation you have to pay the appropriate feed for gift registration no zero gift deed as such today.

LawRato LawRato