• Transfer of Cooperative housing society flat to wife

Hi,

I want to transfer ownership of my flat, registered under West Bengal Cooperative Housing Society, to my wife as gift. I need to know if this gift need to be registered and does this attract any stamp duties. Both me and my wife are senior citizens. Kindly help.

Thanks.
Asked 3 months ago in Property Law from Kolkata, West Bengal
Religion: Hindu
1) gift deed in favour of wife for transfer of flat needs to be duly stamped 

2) registration of gift deed is mandatory 
Ajay Sethi
Advocate, Mumbai
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Hi
 you should get a gift deed prepared and get it registered fro transfer, then apply in the society for transfer of shares.
To register a gift deed in your wife name it is a nominal fee and no stamp duty more than 500/rupees.
Thresiamma G. Mathew
Advocate, Mumbai
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85 Consultations
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it must be registered under section 123 of TP Act. not only registered but it must be attested by at least 2 witness. according to sec 123 gift of immovable property valued more than 100 shall be registered and attested.
Shivendra Pratap Singh
Advocate, Lucknow
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Gift deed requires mandatory registration, failing which it does not convey title from the donor to donee. The stamp duty part can be answered only by a local lawyer as it is not uniform throughout India.
Ashish Davessar
Advocate, Jaipur
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447 Consultations
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Transferring an immovable property shall always be executed by a registered document.  An unregistered document is not legally valid.

The applicable stamp duty has to be paid, there is no exemption for senior citizens.
T Kalaiselvan
Advocate, Vellore
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127 Consultations
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