How do I change ownership of property in Delhi?
Mutation procedure and required documents
- Copy of sale/gift/transfer/exchange/partition deed.
- Copy of Will if applicable.
- Copy of succession certificate if applicable.
- Copy of Power of Attorney (PoA) if applicable.
- Application for change of name with a ₹3 court stamp fee affixed to it.
How do I transfer property from one person to another?
5 Ways to Transfer Property in India
- Sale Deed. The most common way of property transfer is through a sale deed. …
- Gift Deed. Another popular way of transferring property ownership is by ‘gifting’ the property using a gift deed. …
- Relinquishment Deed. …
- Will. …
- Partition Deed.
What is the best way to transfer property between family?
Transfers are usually done via gifting, through a lawyer, but it’s also possible to sell a property to a family member. If a property is jointly owned, a change can be made to the ownership split. Such transfers or mortgage changes incur fees.
Is stamp duty payable on transfer of property between family members in Delhi?
There is no stamp duty concession for a family member who is a donee in Delhi. However, if the donee is a woman, she has to pay a stamp duty of 4 percent, while if the donee is a man, he has to pay a stamp duty worth 6 percent of the property value.
How do I transfer my house from father to son?
Your father can transfer the property either by making a registered family arrangement to both of you as per desire. By this she cannot raise any dispute at any stage. Alternately he can transfer the property by executing a registered gift deed to both of you again as per his desire.
What is the cost of mutation in Delhi?
Request for the change in official records is done through an application form with court fee stamp (a fee of Rs 3 in Delhi). The form must be duly filled, signed and submitted with the Commissioner of the Revenue Department.
What are the documents required for transfer of property?
Documents Required for Property Registration Transfer
- Original title deed.
- MOU (Memorandum of Understanding)
- A copy of passport of the seller and buyer, preferably non-coloured.
- NOC (No Objection Certificate) from the property developer.
What is the procedure of transfer of property?
Transfer of property is an act of conveying property from one person to another, in present or future. … There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement.
How much does it cost to transfer property deeds in India?
Yes, all the charges put together can come up to 7% to 10% of the total market value of the property or more than that. In most states in India, 5% to 7% of the total market value of the property is charged as stamp duty while 1% is charged as registration fee.
Can I transfer my property to my son?
Gifting property to your children
The most common way to transfer property to your children is through gifting it. This is usually done to ensure they will not have to pay inheritance tax when you die. … Parents with property over this value want their child to receive as much of it as possible.
Can I give my daughter my house?
As a homeowner, you are permitted to give your property to your children at any time, even if you live in it.
Can I gift my property to my son?
Gift of a property is usually a Potentially Exempt Transfer (PET). Therefore, after gifting the property, if the donor survives for 7 years – then the children don’t have to pay inheritance tax, as the property will fall outside the estate of the donor.