• Settlement of property by daughter on mother

My mother settled an apartment in Chennai in my name. As I am leaving India permanently to live abroad, I wish to settle this property back to my mother. Will the concessional rates of stamp duty Rs 25000 and registration charges Rs 4000 be applicable for this transaction.
Asked 1 month ago in Property Law
Religion: Hindu

4 answers received in 10 minutes.

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14 Answers

Deed of cancellation of gift deed can be executed by mutual consent of parties 

 

it would attract nominal stamp duty 

 

exact stamp duty local lawyer can guide you 

Ajay Sethi
Advocate, Mumbai
79342 Answers
4746 Consultations

5.0 on 5.0

- Since, the said property is presently in your name registered , then you can transfer the said property back to your mother by way of a Registered Gift deed. 

- The stamp duty being blood related is nominal . 

- However, if it came to you by way of Gift deed , then you both can cancel this gift deed , after registering a Cancellation deed. 

Mohammed Shahzad
Advocate, Delhi
5538 Answers
51 Consultations

5.0 on 5.0

Hello,

  1. The stamp duty and registration charges will depend on the instrument that is being used for the transfer of the property back to your mother.
  2. A transfer by Gift Deed would be one that can keep the stamp duty at minimum taking advantage of the blood relation between the parties. However the value of the property in question will be a consideration in this.

S J Mathew
Advocate, Mumbai
3036 Answers
110 Consultations

5.0 on 5.0

Yes you will again incur stamp duty and registration applicable at your jurisdiction

Prashant Nayak
Advocate, Mumbai
22447 Answers
49 Consultations

4.4 on 5.0

1.  YES .... Legally you may execute a registered Gift Deed in favor of your Mother, that you earlier received from her.

2. Further IF earlier Settlement Deed is less than Six months old, THEN you may execute registered "Revocation Deed" of earlier settlement deed and the property will revert back to Mother.

3. Consult a local Property Lawyer, for the above purposes with all the available documents.

Hemant Agarwal
Advocate, Mumbai
5441 Answers
25 Consultations

5.0 on 5.0

Since stamp duty and registration fees differ in every state someone from Chennai can help you. 

On the basis of your information it can be said that if the nature of document remains same like before the rate of stamp duty and registration fees will also remain same.  The amount may differ if the valuation of the property has increased in the meantime. 

Devajyoti Barman
Advocate, Kolkata
21685 Answers
311 Consultations

5.0 on 5.0

The Answer is No. 

You need to furnish more details of first settlement by your mother to you and full description of property  value and area to ascertain stamp duty and registration charges for the same.

Why don't you prepare a WILL and execute it in favour of your mother which may be done within INR 50,000/- 

Ramesh Pandey
Advocate, Mumbai
2538 Answers
8 Consultations

5.0 on 5.0

Yes

Rahul Jatain
Advocate, Rohtak
5364 Answers
4 Consultations

4.8 on 5.0

Better execute cancellation deed. Miminal fees.

Yogendra Singh Rajawat
Advocate, Jaipur
21402 Answers
31 Consultations

4.4 on 5.0

The applicable charges including the stamp duty for registered settlement deed in favor of mother by a son shall be payable, there is no exemption to it.

The said rates or the charges shall be payable by you for this registered transaction.

 

T Kalaiselvan
Advocate, Vellore
69350 Answers
929 Consultations

5.0 on 5.0

Yes concessional rates will be applicable for gift deed in blood relation.

Mohit Kapoor
Advocate, Rohtak
10685 Answers
7 Consultations

5.0 on 5.0

As per Tamilnadu Govt stamp duty and registration charges for Gift Deed Registration

Stamp Duty: 7% of the market value of the property.

Registration Fee: 1% of the market value of the property.

Ganesh Kadam
Advocate, Pune
11668 Answers
109 Consultations

4.9 on 5.0

stamp duty is state subject varies from state to state. Please consult local lawyer who is more conversant with local laws.

Mohammed Mujeeb
Advocate, Hyderabad
18942 Answers
11 Consultations

4.5 on 5.0

Yes all the required stamp duty has to be paid by you.

Rahul Mishra
Advocate, Lucknow
11562 Answers
20 Consultations

5.0 on 5.0

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