I have an apartment in the Kolkata municipal area. I want to gift it to my married daughter. A friend tells that it would attract 6% registration charge whereas gifting it to my grandson (my daughter's 19 yr old son) would attract only 1.5% registration charges. Is that correct? Please help.
Dear Concerned,
No the information provided to yourself is not correct the gift deed to any family member is 0.5% stamp duty at the value of the property for more information and clarification kindly visit
http://www.wbregistration.gov.in/(S(10owpl3tboeyj0znkzvkni4j))/Stamp_duty.aspx
the above link gives you information of the stamp duty charged in West Bengal on property transactions.
Best of Luck
Since the registration charges and stamp duty is not uniform across India you should consult a Kolkata based lawyer for this.
Thanks Mr. Nehra, I can see that there is a difference of stamp duty for gifting inside the family 0.5% vs gifting outside the family 6%. So there question I have is whether my married daughter should be considered within or outside the family in this regard? Thanks
1) stamp duty is state subject and varies from state to state
2) gift When made to a member of a family
0.5% of the market value of the property
3) in your case since gift deed is being executed in favour of family member it would be 0.5 per cent of value of property
4) registration charges would be around Rs 55000
5) visit the following website www.wbregistration.gov.in/faq.aspx. click on stamp duty and fees
1. In west Bengal the married daughter is considered to be within the family.
2. In that event she will get the said discount if gift deed is made by her father.
3. If you are from Kolkata feel free to contact on making the gift deed.
Dear Concerned,
Prior to 2005 a married daughter ceased to be part of a Hindu Undivided family but after the amendment in Hindu Succession Act, 1956, the daughter married or unmarried, is now considered as co-parcener like a son.
Hence you will have to pay 0.5% only.
Best of Luck
1. gift over 50000 is taxable. donee is liable to pay such tax.
2. if gift is received from relatives like mother, father, brother, uncle etc. it shall not be taxable. (as per union budget 2016).
3. donor should have known source of income to legitimize the gift.
1. according to schedule 1 of Indian stamp act as applicable in west Bengal, 0.5% of the market value of the property shall be levied as stamp duty if property is gifted in blood relation(whether married or unmarried).
The stamp duty rules vary across states; certain state governments even offer some concession if the property is being gifted to blood relatives.
In West Bengal, the stamp duty for sale or conveyance deed is 5% of the property’s market value in panchayat areas, and 6% of market value in municipal areas. In case of a gift deed, the rate is the same if the property is being gifted to a non-family member. If recipient is a family member, then only 0.5% of the market value of the property has to be paid as stamp duty.
I can see that there is a difference of stamp duty for gifting inside the family 0.5% vs gifting outside the family 6%. So there question I have is whether my married daughter should be considered within or outside the family in this regard?
The relationship between you and your daughter cannot be denied just because she has been married.
Therefore the rule or privilege for being a member within the family of 0.5% stamp duty shall prevail and you will be entitled for the applicable rate.
1. Father can gift his properties to his married daughter for which stamp duty @ .50% and Registration fee @1.1% totaling to 1.60% shall have to be spent towards registration of gift deed.
2. Married daughter is considered as relative for which the above concessional rate of stamp duty will be levied for registration of the said gift deed.
Married daughter will be very much considered as from inside the family attracting concessional rate of stamp duty for the purpose of registering gift deed.