NO TRANSFER FEE CHARGEABLE BY SOCIETY FOR TRANSFER IMMOVABLE PROPERTY THROUGH GIFT DEED

In the case of transfer of an immovable property among the family members through a gift deed registered with Registrar of the State, the stamp duty fixed by the law prevailing in the concerned state is to be paid. ... Therefore, when the transfer is among the family members, the Society cannot charge the transfer fees and will have to transfer the shares without any money consideration. Stamp duty fixed by the law prevailing in the concerned state is to be paid. ... Hence once the Stamp Duty is paid on Gift Deed when the transfer is among the family members, the Society cannot charge the transfer fees and will have to transfer the shares in the name of the Donee without any money consideration/ transfer fee/transfer charges. It is mandatory to get the Gift Deed of immovable property registered with the concerned Registrar of Assurances.

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