Legal Question in Real Estate Law in

Is stamp duty payable in case of relinquisement of rights by one of the joint owners in favor of another joint owner without any consideration.


Asked on 1/10/11, 1:02 am

1 Answer from Attorneys
Vishwa Arya Arya & Co.

it would depend upon how the owners acquired the property. if it was by inheritance, then, there will be nominal stamp duty of Rs. 100/- (varies from state to state) but if it was self acquired property then it is conveyance and will fetch stamp duty - if there is no consideration then as per the market value which would be treated as gift to the extent of share of the transferror

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Answered on 1/10/11, 3:50 am


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