Transfer fee for sale deed of flat between blood relative
4 years ago
We my sister and me bought flat before my sister's marriage and because she is elder to me and we were getting more loan on her income, we bought flat on her name. Now she is married and I am not getting tax benefit so we are doing a sale deed of the flat from her name to my name.
The society is unable to decide whether to charge transfer fee of Rs.25,000. Some committee members say because this transaction is between blood relative, real brother and sister there cannot be transfer fee, and few committee members says because it is a sale deed, there has to be a transfer fee.
Please let me know if the society can charge 25,000 as transfer fee or not.
What does the law say, any specific law number if possible.
Normally the Transfer fee for transfer for immovable property between two blood relations is very low, and it is subject to state laws.
Please take PAID phone call with me through VIDHIKARYA and get more legal guidance.
I am giving you the legal provision here from registration point of view.
When you sale a property then you pay a bigger stamp duty usually (5-7 %) of the property value. But when you transfer the property through gift deed you pay lesser stamp duty (1-3%). You can sell or gift your property to your relatives but you can only sell your property to non-relatives.
basis this you can negotiate with your association.
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