What is the cost involved for release deed between son and parents ?
Hello, There is a son by name X and X got married to girl of his choice in 2010. He received around 20 Lakh rupees cash from his parents in multiple installments for his own family maintenance (Say about 3 Lakhs each year until 2015) , now his parents own a agricultural property of around 45 lakhs worth and misslenious property of worth 25 lakhs, totaling the property worth 70 Lakhs.
As son already received around 15-16 lakh rupees in cash now he want to give a release deed to his parents saying that he dont have any rights on the property of his parents. (All ancestral property)
And son X want to do it legally through registration process. Does it cost a big amount for getting this release deed done between X and his parents.
Note:
1) All 70 lakhs worth of property is ancestral property.
2) The parents have another son and a daughter too. They want to distribute this property to them as the son X already received huge amount of cash from his parents.
Please advise whats the cost involved in such cases of release deed for 70 lakhs worth property.