The stamp duty and registration fee on gift deed of immovable property In favour of family member are fixed stamp duty of Rs.1000 + surcharge + cess and fixed registration fee of Rs.500.
Dear Sir / Madam, In case if the property is registered in the name of the Parents and they want to transfer the ownership to their son, what are the Stamp Duty and Registration charges? This is for Bangalore, Karnataka.
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The stamp duty and registration fee on gift deed of immovable property In favour of family member are fixed stamp duty of Rs.1000 + surcharge + cess and fixed registration fee of Rs.500.
1. If parents' want to register the property in their son's name through a Gift Deed to be registered in the jurisdictional Sub Registrar's Office in Bangalore is Rs. 5000/- Stamp Duty + Rs. 1000/- Registration Charges + Around Rs. 600/- towards scanning charges.
2. By executing a registered Gift Deed in favour of their son, the transfer of property is effected in their son's name.
There are different rates with each slab of price which varies further with the gender of the parties.
So disclose full details. Rate further varies with BBMP area.
The parents can transfer their property to their children by executing a registered settlement deed which would be cost effective.
The stamp duty may be around 2%of the government value of the property, you may enquire locally about the exact charges.
- Parents can transfer the said property to their son by way of executing a registered Gift deed.
- Further , since both are blood related , then the stamp duty would be about 2 percent .
you are required to pay 5 percent of the total or registered property value (above Rs 35 lakh) as stamp duty and 1 per cent of the total or registered property value as registration fees in Bangalore