Legal Question in Real Estate Law in India

I am a NRI. I purchased a flat for Rs. 24 lakhs in MUMBAI from MY NRE funds (5 years ago) in the joint names of :

MYSELF, MY ELDEST SON AND MY SECOND SON.

Now I wish to give the flat in the sole name of my second son (who is residing in the flat) My first son (residing in Kerala) has no objection to do so.

I would like to know the transfer procedures to pay THE MINIMUM STAMP DUTY/REGISTRATION FEES on the basis of this transfer amongst parent and children.

Whilst registration of the flat , myself and my first son gave power of attorney to the second son

for him to be alone for registration procedusres.

Can we make this transfer authorisation / registration in Kerala for this property in Mumbai?

Thanking you and looking forward to receivint your early reply.

T. V. SAMUEL


Asked on 6/11/11, 8:09 am

2 Answers from Attorneys
shiv shakner saini saini law

you cant make this transfer authorisation / registration in Kerala.

this property is in Mumbai so transfer authorisation / registration will take place in mumbai only.

for other question ask on phn will let you.

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Answered on 6/11/11, 10:00 am
Shrichand Nahar S.V.Nahar, Advocate

In Maharashtra, you and your eldest son may Gift their share in the flat to the second son. This will entail stamp duty of 2% and registration charges of 1% subject to ceiling of Rs.30,000/-.

Registration formalities have to be completed where flat is situated.

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Answered on 6/11/11, 10:37 pm


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