• Gift deed in Mumbai

My Father has a bungalow on his name. He wants to make a gift deed to his son (My brother). 
From what I understand 
Stamp Duty is Rs.200
Registration is how much? Some people say it is Rs.500 and some say Rs. 30000
Is there any other procedure required, like somewhere I saw that valuation of property by an approver is a must. Please advise.
Asked 8 months ago in Property Law from Mumbai, Maharashtra
Religion: Christian
1) you are correct  in your understanding that stamp duty on gift deed in Maharashtra for gift from father to son is around Rs 200 

2) registration charges would be 1%on market value or  Rs 30,000 which ever is less 

Ajay Sethi
Advocate, Mumbai
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1) LBT would be applicable .

2) the registration and stamp department are authorised to collect it and pass it on to local self bodies 

3) your father can either execute gift deed or relinquishment deed 
Ajay Sethi
Advocate, Mumbai
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1219 Consultations
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1) valuation of house by govt approved valuer is not required for execution of gift deed 

2) stamp duty on gift deed and relinquishment deed by father in favour of son would be the same

3) registration charges to my knowledge is around Rs 30000 as mentioned earlier  
Ajay Sethi
Advocate, Mumbai
23217 Answers
1219 Consultations
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I do not practice within Maharashtra but as much as I know the transfer of property through gift deed between blood relatives is exempt from stamp duty in that state. I could be wrong though. A Maharashtra based lawyer alone is in a position to answer this question.
Ashish Davessar
Advocate, Jaipur
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448 Consultations
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In Maharashtra for a transfer of immovable property between blood relations, the stamp  duty payable is exempted.
the registration charges is Rs. 500/-
 he latest amendment in this regard is in Article 34, in column 2, after the existing proviso, the following proviso
shall be added, namely:-
“Provided further that, if the residential and agricultural property is gifted to
husband, wife, son, daughter, grandson, grand-daughter, wife of deceased son, the
amount of duty chargeable shall be rupees two hundred.
T Kalaiselvan
Advocate, Vellore
14006 Answers
127 Consultations
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We also have some Agricultural land in the Joint name of my father (76 years old) and my brother in Asangaon, Maharashtra. There is also one neighboring NA plot (For Industrial use) in the Joint name of my father (76 years old) and I. Other than the gift deed charges, will a Local Body Tax of 1% applicable on this. Which is the cheapest way to transfer the land to only my brother's name (Gift Deed or Relinquishment Deed). Is Valuation of the land by a government approved Valuer required in this case as well to prepare the Gift Deed?


The Maharashtra government has waived off stamp duty on transfer of immovable property by its owner to an heir or a family member. 
Prevalent norms of the Maharashtra Stamp Act stipulated a stamp duty up to 5 per cent on such transactions. 
While the stamp duty payable in cases where a gift is being made to a family member was 2 per cent of the property’s market value (ready reckoner rate), transfer of a property that does not qualify as an ancestral property attracted a levy of 5 per cent. A stamp duty of Rs 200 was also payable on a release deed in respect of an ancestral property, all such transactions would have to be compulsorily registered with the government. 
T Kalaiselvan
Advocate, Vellore
14006 Answers
127 Consultations
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1) Is Valuation of House or Land by a government recognized approver required to make a gift deed?? Or only gift deed is sufficient
There is no need for an approver to make a gift deed.  You can execute a gift deed prepared by yourself.



2) Someone told me that the registration fees of Rs. 30000 have been reduced to Rs. 500. Can you please check again. Are you sure about this?

You have rightly heard that the registration fee is just Rs. 500/-





3) Which one is better? Gift Deed or Relinquishment deed (Father to Son) in case of Joint ownership by Father and Son in Asangaon, Maharashtra. I am looking for the cheapest/easiest way to get this done

Gift deed will be appropriate
T Kalaiselvan
Advocate, Vellore
14006 Answers
127 Consultations
5.0 on 5.0
Q. My Father has a bungalow on his name. He wants to make a gift deed to his son (My brother). 
From what I understand 
Stamp Duty is Rs.200

A. Yes, after the amendment in 2015 gift tax levied on gift given from father to son is only 200  rs instead of 2% of ad valorem [value of the property] 
Shivendra Pratap Singh
Advocate, Lucknow
2737 Answers
41 Consultations
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Q.  will a Local Body Tax of 1% applicable on this. 

A. no no such tax is applicable. Your father is alive and property is not partitioned so you cannot make gift but you can relinquish your interest in favour of your brother and its need not be registered. 
Shivendra Pratap Singh
Advocate, Lucknow
2737 Answers
41 Consultations
4.9 on 5.0
Q.  Someone told me that the registration fees of Rs. 30000 have been reduced to Rs. 500. Can you please check again. Are you sure about this?

A. In pursuance of clause (3) of article 348 of the Constitution of India, the following translation in English of the Maharashtra Stamp (Amendment) Act, 2015 (Mah. Act No. XX of 2015), is hereby published under the authority of the Governor.

" (18) in Article 34, in column 2, after the existing proviso, the following proviso shall be added, namely:-
“Provided further that, if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson, grand-daughter, wife of decesed son, the amount of duty chargeable shall be rupees two hundred.”;"
Shivendra Pratap Singh
Advocate, Lucknow
2737 Answers
41 Consultations
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