Legal Question in Real Estate Law in India
Our joint hindu family has made a written deed of family arrangement for an immovable property. Few family members have given up their rights on the property and given full rights to other family members. There has been no actual purchase or sale. The value of the property has been mentioned in the deed of family arrangement. Are the family members receiving rights of the property liable to pay stamp duty and registration charges? If yes then on what value will stamp duty be calculated?
2 Answers from Attorneys
once other members have relinquished their share, the beneficiaries can get the property mutated in their name and in case the stamp duty is to be paid, it is to be paid on the value of the property.
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May be
Check stamp act applicable to area where properties situated.
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