1)stamp duty for gift deed executed by father in favour of son is Rs 200
2) registration charges Rs 200 only
I want to transfer residential property(location Mumbai) to my Son thru gift deed. What will be the stamp duty and registration charges applicable?.
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1)stamp duty for gift deed executed by father in favour of son is Rs 200
2) registration charges Rs 200 only
Sir , in some states gift deed do not require Stamp duty.. However it varies from state to state.. You can obtain the deatils from the registrar office..
thanks for your prompt reply Ajay Sir.....however would like to confirm that this is valid for year 2017-18 after property reforms recently carried out by govt. of maharashtra
It is valid . government had planned to increase stamp duty on transfer of flats between relatives but decision was not implemented on account of hue and cry raised by the citizens
The stamp duty payable for the execution of gift deed is Rs. 500/- and the registration charges shall be Rs. 200/- for the transfers within relatives.
however would like to confirm that this is valid for year 2017-18 after property reforms recently carried out by govt. of maharashtra
Though the government decided to increase or hike the stamp duty, it revoked the same immediately within two days.
In a major u-turn, the state government on Thursday(17.5.17) revoked the decision to hike stamp duty on gift deeds which was passed by the state cabinet two days ago.
On Tuesday the state cabinet had amended the Maharashtra stamp duty act and had hiked the stamp duty on gift deeds from Rs 500 to 3% of the land value. On Wednesday night, revenue minister Chandrakant Patil issued a statement saying that no such decision was taken in the cabinet and that it was a case of "miscommunication" which led to the confusion and subsequent new reports.