• Stamp duty exemption in blood relation

DEAR SIR 
we two brothers bought a plot of 250 sq mtrs in sept 2006 in both names , now my brother is giving that plot to me against some other plot which also commom property but totally in his name , what is the procedure to transfer that plot wholly on my name and would stamp duty be expempted in that case if we make a gift deed , plz advice
Asked 7 years ago in Property Law
Religion: Hindu

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5 Answers

1. All transfer of immovable proeprty requires stamp duty for the purpose of registration.

2.However if the transfer is made between close relatives like yours then the stamp duty is very less.

3.Do note you will get concessional rate of stamp duty but no total exemption from it.

Devajyoti Barman
Advocate, Kolkata
22917 Answers
497 Consultations

5.0 on 5.0

1) gift deed attracts 2 per cent stamp duty in case gift is executed by your brother in Your favour

2) it would also attract registration charges

Ajay Sethi
Advocate, Mumbai
95168 Answers
7604 Consultations

5.0 on 5.0

1. Your brother can execute a gift deed in your favour.

2. Whether or not the gift deed will be exempt from stamp duty can be answered only by a Maharashtra based lawyer as every state has its own stamp duty act.

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

5.0 on 5.0

By executing registered relinquishment deed by your brother in your favour the property can transfer your favour wholly. Relinquishment deed or release deed is competent and it will take reasonable for payment of stamp duty and registration charges.

Lakshmi Kanth
Advocate, Hyderabad
446 Answers
15 Consultations

4.7 on 5.0

You brother can execute a registered gift deed in your name and transfer the property entirely on your name.

There is no stamp duty for such transfers within the blood relations in Maharashtra.

You may have to pay the registration charges alone.

T Kalaiselvan
Advocate, Vellore
85369 Answers
2231 Consultations

5.0 on 5.0

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