The stamp duty on gift deed in Maharashtra is 3% of the property’s value, as per Article 34 of the Maharashtra Stamp Act. However, if the property is gifted within the family (to husband, wife, son, daughter, grandson, grand-daughter, or wife of a deceased son), the stamp duty is Rs 200 for residential or agricultural properties. This amendment was introduced in 2017.
Documents Needed to Create Gift Deed Stamp Duty In Maharashtra
When creating a gift deed in Maharashtra, you’ll need the following documents:
Identification and Proof of Both Parties: PAN card, Aadhar card, Driving license (if available)
Property Documents: Original gift deed, Sale deed or title deed (to prove ownership)
Photographs: Passport-sized photographs of the donor, donee, and witnesses
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My uncle quite recently asked my father about stamp duty for gift deed in Maharashtra and the factors on which it is based. He asked how much he had to pay. My father said that the stamp duty for gift deed is 3%.of the property’s value.
What Is The Gift Deed Registration Charges In Maharashtra?
Following this, my father explained a few more details of the gift deed to my uncle. Here is what he explained.
| Conveyance Deed | Stamp Duty Rate |
Gift Deed |
3% of the Property’s Value |
Gift deed for Residential/Agricultural property passed to family members |
Rs. 200 |
Power Attorney |
3% (Gram Panchayat) & 5% (Municipal Areas) |
Special Considerations |
5% Stamp duty for relatives and non-family members. |
Following this, my father also said that these registration charges for gift deed in Maharashtra are only applicable for the Mumbai area.
My uncle then asked my father about the steps that need to be taken for gifting property.
My father said that the first step is to make sure that both the donor and donee are competent for the contract.
As my father mentioned, the next step is drafting the deed with necessary information such as property description, donor and donee information, etc.
He told my uncle to consult a legal expert to ensure that all rules and regulations were duly followed.
After that, submission of the gift deed to the local sub-registrar office, along with required documents such as property papers, ID proof, etc.. was needed.
The next step, my father said, was to pay the gift deed registration charges Maharashtra and have two witnesses present for the attestation of the property.
And finally, the donne needs to accept the gift deed during the lifetime of the donor. And that was all about the stamp duty for gift deed in Maharashtra.
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Authors Of The Question
What Is Stamp Duty For Gift Deed In Maharashtra?
Natasha
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2 Answers
9 months
2024-03-12T12:05:09+00:00 2024-03-12T12:05:48+00:00Comment
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