• Family settlement deed and stamp duty applicable on it

There is a property were my grand father and his sons are also the co-owner of the property. 
Every one is enjoying their respective portion or flats as per their investments of share in the property Via a registered Partition Deed
 
Now post my grand fathers death he distributed his share of portion or flat of the property to his sons as he wished by virtue of registered will he left behind.

Now we mutually want to file a family settlement deed for better partition or distribution among ourselves with little change for our better use and register the same to avoid any problems in future.

so i want to know what will be the stamp duty and registration charges applicable for the settlement deed in Kolkata, West Bengal? Whereas its amongst the family members.
Asked 7 years ago in Property Law
Religion: Hindu

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5 Answers

1. it is a good idea.

2.The stamp duty of such deed in WB is 2%.

3.If you need assistance to execute such deed feel free to contact me at [deleted].

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

1) legal fees vary depending upon the lawyer engaged by you

2) stamp duty would depend upon market value of property as per circle rate or ready reckoner rate

3) registration charges are separate

4) total charges only local lawyer can guide you

Ajay Sethi
Advocate, Mumbai
95216 Answers
7611 Consultations

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1. Registration fees would be 1/1% .

2. lawyer fees varies.I quote my fees only if contacted in private.

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

so i want to know what will be the stamp duty and registration charges applicable for the settlement deed in Kolkata, West Bengal? Whereas its amongst the family members.

The registration charges and the stamp duty for registered documents involving immovable properties and all other documents is a state subject,

The stamp duty differs from one state to another.

AS per VB govt. the stamp duty payable on registration of partition deed is 0.5% of the market value of the separated share or shares of the property.

The registration charges are:

Up to Rs. 250 is Rs. 2

Up to Rs. 500 is Rs. 7

Up to Rs. 1000 is Rs. 8 UP to Rs. 5000 is Rs. 9

For Rs. 1000 or part thereof in excess of Rs. 1000.

Above Rs. 5000 is Rs. 11 for Rs. 1000 or part thereof in excess of Rs. 5000.

T Kalaiselvan
Advocate, Vellore
85416 Answers
2239 Consultations

5.0 on 5.0

1. The 2 % is includes both the stamp duty and registration charges too? If no then what will be my total percentage of expenditure applicable on the valuation of the property?

For partition or for gift deed within the family members the rate is one half of one per centum of the market value of the separated share or shares of the property (0.5%).

2. What will be the lawyers fees applicable for filling the deed of settlement?

It depends on the lawyer you may engage.

What will be total probable charges we have to bare ? (STAMP DUTY+REGISTRATION+ LAWYERS FEES) for the all of the three?

First ascertain the market value of yor property and then calculate the stamp duty and registration charges, add the lawyer's fee told to you on this.

T Kalaiselvan
Advocate, Vellore
85416 Answers
2239 Consultations

5.0 on 5.0

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