General PoA for Property Transfer within Family Members
My brother & my sister-in-law (currently both out of the Country) both co-owns a property in Nelamangala, Karnataka. For which they have given General PoA (with Notary Sign) to my Mom. Now my brother doesnt want any property in his name in India since he is about to get a property of his own in the country he is settled.
Can my mother gift the property to me so that the title on property will be changed to me? We have asked the person who drew the contract for PoA, He told us we can only sell (cant Gift).
We just want to change the name in the property deed from my Brother's & Sister-in-Law's Name to mine. Is there a way to do the same, so that there wont be any tax or any other problem as there is no money exchanging. If so who will be the tax payer?
Should we mention money transfer details also, if so what is the minimum amount for a 1600 sq.ft. area which has been constructed partially (asbestos sheet 2 room cement floor 500sq.ft.) and being rented currently.
Can you also approximate the total amount needed at the Sub-Registrar office to do this process. (such as process fee, registration fee etc.). Give an example.