Transfer of tenancy rights
My father Jahangirdar started a shop in 1950's
The shop is under pagdi system, and the pagdi tax receipts are under the name of Rao.
There was a Dispute between my father Jahangirdar and Rao in Mumbai court.
The case was disclosed,
After reviewing the case papers by the landlord with his lawyer he has informed us that the shop can be transferred to Jahangirdar from Rao and Jahangirdar has to pay 35% of market value to the landlord for transfer which is about 80 lacks INR.
I have a brother and a married sister.
Jahangirdar has decided that who is willing to arrange the landlords premium will be the whole and sole tenant of the shop.
I have decided to arrange the amount and get the Tenency, I want to know what is the best way to get the tenancy under my name and further after transfering it to Jahangirdar (my Father) My brother or sister might not be ready to give NOC or they might even ask for Share.
Should i go for Gift deed transfer while transfering it from my father (Jahangirdar) to my name, and if so do i have to pay the 35% again?
Thanks