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Gift deed in Uttar Pradesh
1 year ago
Hi , I would like to know the process of gift deed from father to sons. How much time it takes ? Is property evaluation needed and who does it ? Do donor and donee both need to be at registrar office or can sign at home and take document for registration to registrar office ? What's the stamp and registration charges ?
A.Dear Client,
If an immovable property is being given as a gift, it amounts to transfer of property and must be made in writing through a gift deed. This deed needs to be signed by the donor and the donee in the presence of two witnesses. Deed must be registered with the local registration authorities.
Both parties need to be present at the time of registration. Registration fees as stipulated must be paid. The following documents need to be submitted: Gift deed, Purchase agreement with Index II of the property, society registration certificate, share certificate, apartment deed as the case may be, Aadhaar and PAN of both parties, Latest electricity bill and property tax paid documents with respect to the property, Encumbrance certificate.
stamp duty will be 7% of the market value of the property.
If an immovable property is being given as a gift, it amounts to transfer of property and must be made in writing through a gift deed. This deed needs to be signed by the donor and the donee in the presence of two witnesses. Deed must be registered with the local registration authorities.
Both parties need to be present at the time of registration. Registration fees as stipulated must be paid. The following documents need to be submitted: Gift deed, Purchase agreement with Index II of the property, society registration certificate, share certificate, apartment deed as the case may be, Aadhaar and PAN of both parties, Latest electricity bill and property tax paid documents with respect to the property, Encumbrance certificate.
stamp duty will be 7% of the market value of the property.
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