Is it possible to transfer land without registration through a gift deed?
Question asked by Mr. Anuj from Delhi, India:
My father had purchased two acres of land in Delhi. Now he wants to transfer it to my name. Is it possible to transfer it without registry by registered gift and how much money will be required for the transfer?
Thanks
Anuj
Veena Answers:
We are of the view that the transfer will take effect only if the gift deed is registered. The stamp duty payable is 5% of the market value or the circle value of the property whichever is higher and registration charges are payable at 1% of the market value or the circle value of the property.
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