You can do the following:

1. You can execute a 'Deed of Relinquishment' in respect of the flat which is 80 lacs and therefore your brother becomes the sole owner. You relinquish all your rights, title and ownership over the 80lacs worth flat;

2. In the case of 3 flats worth 65 lacs, your brother can execute three 'Deeds of Relinquishment' and therefore you become the sole owner. Your brother relinquishes his rights, title and ownership over the 3 flats;

3. Another cheapest way is to execute a 'gift deed'. Since you execute a gift deed and its to a brother there is no need to pay exorbitant stamp duty and minimal registration fees.

Hi, the cheapest way is to execute a GIFT DEED , in favour of each other .. The Stampduty on GIFT DEED is less as compared to sale deed

If you and your brother are the joint owner then you two can go for partition of the properties. Deed must be registered and stamp duty and registration fees must be paid.

"Stamp duty in Mumbai is 5 per cent of the total cost of the property. The final amount is calculated on the basis of the agreement value, or the ready reckoner rates decided by the state government, whichever is higher. As for example, if the agreement value of a property is Rs 50 lakhs and the value according to the ready reckoner rate is Rs 40 lakhs, then, the stamp duty would be calculated on the higher value, i.e., Rs 50 lakhs."

"Registration fee is 1% (one percent) on Market Value or on the Agreement Value or 30000/- which ever less."

Vakil fees depends on the Vakil.

Enter into a settlement deed with your brother to record the above arrangement that has been agreed in between you and your brother.

The above settlement deed must be duly stamped and registered.

Take assistance of a local lawyer.

Deed of family settlement can be executed for division of property

2) you have to pay stamp duty on market value of property

3) legal fees vary depending upon Lawyer engaged by you

What will be Stamp duty?

Answer: According to the Bombay Stamp Act:

1. If you execute POWER OF ATTORNEY not being a Proxy: -

if given to the father, mother, brother, sister, wife, husband, daughter, grandson, granddaughter or such

other close relative then the stamp duty is Rs.500 or lower;

2. If you execute a GIFT, Will or transfer to a family member:

if the property is gifted to a family member being the husband, wife, brother or sister of the donor or any lineal ascendant or descendant of the donor, then the amount of duty chargeable shall be at the same rate as specified in this article or at the rate of rupees ten for every RUPEES FIVE HUNDERED or part thereof on the market value of the property which is the subject matter property which is the subject matter of the gift, whichever is

less.

registration fees,

Answer: It will be less than 30,000/- or less depends on the registrar and where your flat is located;

and vakil fees ?

Answer: a lawyer will charge you Rs.30,000-40,000 for completing the whole procedure, including drafting, printing, registering, etc.

Partition deed, you can make and register a partition deed.

A partition cum settlement deed can be drawn on stamp paper and it can be registered by paying stamp duty of Rs.10/- for every rs.500/- or part thereof of the amount or the market value of the separated share or shares of the property.

(https://www.wirc-icai.org/material/IMPORTANT-PROVISIONS-OF-STAMP-DUTY-AND-REGISTRATION.pdf)

Refer page 28 for duty calculation partition.

Vakil fees will be according to lawyer you hire for drafting and registration,

1. You both can register a settlement deed diving the said 4 properties amongst yourselves accordingly.

2. Since the settlement deed will be registered by brothers, the stamp duty to be paid will be minimum.

3. After registering the said settlement deed, you both should mutate your names accordingly by filing applications enclosing copies of the said settlement deed.

1. For the property which your brother wants to keep, you can execute either a gift deed or release deed for transferring your share in that property to your brother.

2. For the properties which you want to keep, your brother can execute gift deed or release deed in your name.

3. The gift deed or release deed will have to be stamped and registered.

4. Technically a release deed without any consideration passing between the parties, is as good as gift deed.

5. So I suggest go for gift deed. The stamp duty will be 2% of the market value as per ready reckoner. Registration fee will be 1% of market value of the property.

6. The lawyer fees would differ from lawyer to lawyer. So you can make your choice with whom you want to proceed. Remember less fees does not always mean better quality being delivered. Sadly despite being a lawyer myself I am disheartened to say that some lawyers only do a copy paste job without any application of mind. So make your decision wisely.

7. Apart from the above charges you will also have to bear the agent charges who would help you through the registration procedure. You can catch hold of any good local agent for the job.

Wish you luck

Firslty, the stamp duty would be 6 perecent of the property value.

But if it’s on the women name then half of it.

Plus advocates fees that may depend upon the credibility of an advocate but still I would say almost around 50K.

Since all the required information is not provided by you that is why detail stamp duty and registration expenses to be bared by you and your brother separately in case of relinquishment deeds executed in favor of each other for the ready reckon er values as stated earlier cannot be stated. You can visit the below mentioned link to calculate the stamp duty and registration fees by mentioning all information in the required fields to calculate.

https://www.e-stampdutyreadyreckoner.com/Stamp-Duty-Calculator.html

This is the following response to you:

1. Deed of Relinquishment has to be done on stamp paper (engage a layer he will advise you);

2. In the state of Maharashtra and as per the Maharashtra Stamp Act mentioned above for release deed/ relinquishment deed /gift deed to be executed in favour of any family members it has to be on stamp paper of Rs. 500. You also approach the contact details herein:

https://www.e-stampdutyreadyreckoner.com/Stamps.html

https://www.e-stampdutyreadyreckoner.com/SRO/Kolhapur.html

3. You have to cross check with Sub-Registrar office situated in your locality to know exact amount of stamp duty payable. Since the stamp duty rates are still different in various districts of the state of Maharashtra. You can search which office is applicable for you:

https://www.e-stampdutyreadyreckoner.com/SRO/Kolhapur.html

4. You can also call on the helpline number: [deleted]

Hope this resolves your query. If you need further clarification, please do not hesitate to ask.

registration charges are maximum Rs 30,000 in Maharashtra

2) you can cross check with sub registrar office exact amount of stamp duty payable

sir kindly approach a registration agent for the same. this forum is not meant to go beyond initial consultation for doing everything without a professional fee. we can at the most guide you and give you options. for further consultation you need to contact concerned lawyer.

Nominal fees for release deed. GIFT deed another option, nominal fees if effected in blood relatives. 500 to 1000.

1. By executing relinquishment deed, one relinquishes his share or right on a property.

2. In the instant case, you both are joint owner's of 4 flats out of which the bigger and costlier flat is being settled in favour of your brother and the balance is settled in your name.

3. Here no body is relinquishes his right grossly.

4. If you want to register relinquishment deed, for each flat one has to relinquish his share in favour of the other and and there will be at least two relinquishment deeds i.e. one for the bigger flat by you duly relinquishing your share thereupon in favour of your brother and another deed will be for the remaining 3 flats to be relinquished by your brother. If you mention both of your said relinquishment in the same deed, then it will be termed as settlement deed.

5. Stamp duty will be minimum for settlement deed amongst blood related persos and stamp duty and registration fee varies from State to Sate being a State subject and depends on the market value of the properties.

Sir 2 Relinquishment deed will be costly as the stamp duty is around six percent on relinquishment deed equal to sell deed.

So it's better to make a partition deed or gift deed on that stamp duty is 3% gift deed.

Also partition deed the stamp.duty shall be even less and it is best way to settle

Since this is going to be a family partition deed, the transfers are effected within the blood relations hence as per law in Maharashtra, there is no stamp duty for transfer of immovable property within blood relation.

Only the registration charges of Rs. 500/- may be necessary to be paid.

Please give detail stamp duty and registration expenses to be bared by me and brother separately in case of relinquishment deeds executed in favor of each other for the ready reckon er values as stated earlier.

Relinquishment deed may not be applicable to this situation, it can be a mutually agreed partition deed.

In Maharashtra no stamp duty is applicable for transfer of immovable property within blood relation.

With so may replies, the query seems to be resolved.

You can execute a Registered partition deed and do the same. The stamp duty and registration is case to case basis as per the ready reckoner and Property value. Vakil fees is not fixed and may vary from advocate to advocate.