I had purchased a flat 4 years back. My flat is in my sister(because she was the only earning member of the house) and my dad's name. We had taken a loan for the flat and since Jan 11 instead of my sister who bought the flat I have been paying EMI for the loan because she got married. I am not getting any benefits and so I wish to transfer the property in my name. Do I have to pay the stamp duty and registration charges again? Or do we have an alternate way to transfer it?
Answered on November 08, 2017
The flat can be trasnferred to your name by your sister by way of a gift deed and the same would attract 2% stamp duty as per the provisions of the Bombay Stamp Act and a further 1% charge towards registration fees or Rs. 30,000/- whichever is lower on that account.
