I want to know a few details regarding the gift of a property from my elder brother to my young brother: 1. can this be done legally? 2. if yes, what are the charges to be borne for the stamp duty and the registration? 3. What would be the fees for the lawyer who would do this gift deed? 4. What are the charges of the sub registrar?
Answered on November 08, 2017
Gift deed between blood relatives is permissible. Stamp duty on a Gift Deed between brother to brother would be 2% of the market value of the property and further 1% or Rs.30,000 whichever is lower as registration fees. The fees of the Advocate would depend from Advocate to Advocate and the other charges of the Sub-registrar would include scanning fees, etc., which will depend on the number of pages of the document.
