Legal Question in Real Estate Law in India

property transfer

I and my father own a joint commercial flat in delhi, india . He wants to transfer his 50% share to my wife. What is the leagal documents required & what tax implications will it have


Asked on 6/13/07, 9:03 am

3 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: property transfer

Documentation mainly defend on status of title, which you did not specify. As far as tax implications, it depends on manner in which it has been accounted for in your records. Flat and commercial are not the words which would normally go together.

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Answered on 6/14/07, 2:02 am

Re: property transfer

If the transfer is by way of gift then prescribed stamp duty shall be required to be paid and if it is sale then reqisite stamp duty applicable shall be paid.

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Answered on 6/13/07, 12:44 pm
Vivek Mapara Mapara Law Firm

Re: property transfer

Transfer can be affected either by sale deed or by gift deed. In both the case stamp duty is required to be paid.

Amount of Stamp duty depend on the stamp act of your state.

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Answered on 6/14/07, 12:47 am


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