1) stamp duty is state subject and varies from state to state
2) in case gift is made from father to daughter it attracts concessional stamp duty
3) exact stamp duty local lawyer can guide you
Stamp duty in UP on property gift
Hi I am having a commercial property and residential property in Uttar pradesh. I want to trasnfer it to my daughter (29 Year of age) in a form of gift. I need to know if i have to pay the stamp duty ? If yes then how much on the value of commercial property & residential property i have to as pay stamp duty. I heard that there is no stamp duty if we want to gift immovable property to blood relative i.e. daughter. Is it right. Kindly guide me.
Asked 8 years ago in Property Law
Religion: Hindu
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5 Answers
The rate of stamp duty is 2% in UP.
You can transfer the property by way of creating gift deed or settlement deed infavour of your daughter .Gift deed attracts 2%stamp duty on market value of property in Uttar Pradesh.
In many states there is no stamp duty for a transfer of property made to a blood relative, but only a UP based lawyer can throw light on the position in UP.
Once the Gift Deed is signed by both the parties, implying transference and acceptance, it is mandatory to register, if the Gift Deed is of an immovable property. Also, it acts as a firewall when you are facing a legal dispute, as unregistered Gift Deeds are inadmissible in court.
To transfer the property through gift deed, gift deed attracts 2%stamp duty on market value of property in Uttar Pradesh
