• Gift deed stamp duty in case of house (immovable property)

HI,
My property is located in Bangalore,Karnataka.I would like to know if i want to gift a 50% share in it as to my mother, will she be considered a family member as per karnataka laws as the stamp duty is very low in case of family member.
Also, if she is not and i add her as a co -applicant then what liabilities will she have and as the only loan contributor , will i be able to claim tax benefits on the whole property or 50%

regards
Asked 2 years ago in Property Law from Bangalore, Karnataka
Hi, as per Article 28 of the Karnataka Stamp Act,  "Family in relation to the donor for this (Gift) Purpose means,( Father, Mother) Husband, wife, son, daughter, daughter-in-law, brother, sister and grand children. 

2. So with in the above relationship  gift is executed then stamp duty payable is " Rupees One Thousand Only.
Pradeep Bharathipura
Advocate, Bangalore
4200 Answers
149 Consultations
4.3 on 5.0
May be, as per the Karnataka Stamp Act,1957 edition 2013 what i have replied the same definition is there.
Pradeep Bharathipura
Advocate, Bangalore
4200 Answers
149 Consultations
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1. Mother is indeed a family member. 

2. The gift deed made by you in her favour will attract a very nominal stamp duty as compared to a gift deed wherein the donee is not a family member.
Ashish Davessar
Advocate, Jaipur
19587 Answers
507 Consultations
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1) mother is a family member 

2)gift deed made by son in favour of mother would attract concessional rate of stamp duty as per provisions of karnataka stamp act
Ajay Sethi
Advocate, Mumbai
27331 Answers
1486 Consultations
5.0 on 5.0
Hello,
As mother is one of the nearest blood relation, gift deed made in her favour will attract minimal stamp duty as opposed to a non family member which would be as good as a sale transfer.

It is however always advisable to make an enquiry at the office of the sign registrar of your area  to get the exact percentage of stamp duty payable.
S J Mathew
Advocate, Mumbai
1987 Answers
79 Consultations
5.0 on 5.0
1. Your mother is a family member as per Karnataka Stamp Act,1957,

2. You shall have to pay very nominal stamp duty for registering a gift deed of your property in her name.
Krishna Kishore Ganguly
Advocate, Kolkata
13581 Answers
291 Consultations
5.0 on 5.0

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