For transfer of property by a registered deed the applicable stamp duty shall have to be paid. You can enquire about the quantum of the stamp duty payable on this from local sub registrar office.
Stamp duty on gift deed in Gujarat
My brother plans to gift me property in his name in Gujarat. As it is blood relation with no monetary transaction involved , would the property transfer attract stamp duty in Gujarat ?
Asked 4 years ago in Property Law
Religion: Hindu
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7 Answers
It would attract stamp duty and registration charges
As per section 122 of the Transfer of Property Act, 1882, a gift is considered to be valid only when it is made voluntarily; it is without consideration; there has been an offer by the donor; and the offer has been accepted by the donee, and the donee actually accepts the gift. Thus for the gift to be valid it must be made by your brother voluntarily, without any exchange of money and it needs to be accepted by you.
Gifting is an act, through which a person voluntarily transfers certain rights in an asset to another person, without any consideration. Even though this is not like a typical transaction, gifting of a house property has certain registration fees and stamp duty implications
Stamp duty would be attracted. It is 7% in Uttar Pradesh. It may be around this figure.
According to Article 34 of the Maharashtra Stamp Act also applicable to State of Gujarat which was revised in 2017, stamp duty on gift deeds is 3 per cent of the property value. But, if the property is residential or agricultural, and is gifted without any payment to a blood relative, then the stamp duty is Rs 200.
- Stamp duty charges vary from one state to another and may depend on gender
- In Gujarat Basic rate of Stamp duty is 3.50% and Total rate is 4.90% i.e., Rs. 4.90 for every Rs. 100/- need to be paid as stamp duty for Gujarat Property Registration , and the registration fee is 1.05%.
Dear Sir/Ma'am
Yes, it will attract Stamp Duty. The stamp duty payable in Gujarat is governed by the Bombay Stamp Act, 1958 as applicable to the State of Gujarat. As per Article 28 of Schedule I of the said Act, the stamp duty payable on a gift deed is 3.5% of the market value of the property being gifted. As per the provisions of the said Act, you can’t execute a gift deed on a stamp paper of Rs100.
Thank You.
