Legal Question in Real Estate Law in India
Dear Sirs
I am residing with my family in kolkata. The property is in my father and mother's name and I have 2 sisters, one of them has recently got married. We live in a two storied building, of which we live on the 1st floor and the ground floor is not yet complete. The building is standing on 14 pillars, the foundation of the building is for 4 storey building. I wish to complete the ground floor, however I am not been able to apply for a house renovation loan as the house is in my parent's name. I have been advised to register the ground floor by way of Gift Deed. Can you tell me whether this is possible? Furthermore, could you also advise what are the costs involved in completion of Gift Deed along with the process ?
1 Answer from Attorneys
29.10.2013
Dear Sir / Madam,
YES, your parents can register a Gift Deed of the ground floor in your name. You should contact a local Advocate in your vicinity who can assist you with the Gift Deed.
Regards,
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