Deed of relinquishment attracts nominal stamp duty of Rs 200
2) registration charges are nominal
1996 Apartment in Thane, Maharashtra not registered
Hello, We had purchased an apartment (Note: It is not a cooperative housing society) in Thane and the agreement is dated January 1996. My father died in 2013. The apartment is still on his name and it is not registered yet. I (the son) stay out of India. I have got a Power Of Attorney documented and stamped at the Registrar's office wherein it is mentioned that I (and my sister) relinquish our shares to our mother. Also, I have given the Power of Attorney to my mother as per the document. We now want to register and eventually sell it. I have couple of questions here: 1. What will be the "consideration amount" which is needed for Stamp Duty Calculation? I hope 0, considering we create a release deed, right? How much will the entire registration cost? 2. How much will be the penalty? Please advice on the appropriate approach here. Thanks a ton in advance.
Asked 3 years ago in Property Law
Religion: Hindu
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4 Answers
The inheritance of property by the legal heirs from the deceased property owner shall be recognised by transferring the revenue records to their names.
There is no provision in law to get it registered on their names.
If you and your sister have relinquished your rights in the property by a registered release deed then your mother becomes the absolute owner of the entire property.
Therefore there's no question of payment of stamp duty in this regard.
The market ready recokneer value is considered.
They have their schedule of penalties. Check Wthether there is some amnesty scheme
- As per law, after the demise of father intestate , his property would be devolved upon all the legal heirs equally.
- If you and sister have already released their respective shares after executing a registered relinquishment deed , then your mother has become the single owner of the property ,and she can apply for mutation in her name .
- Further, for the registration of release deed a nominal fees is required. to pay.
