What Is Stamp Duty For Gift Deed In Maharashtra?

Under the Maharashtra Stamp Act, the standard stamp duty on a gift deed is 3% of the property’s market value, when the gift is to someone who is not a close blood relative.

• However if the property is being gifted to a “blood relative” (for a residential or agricultural property, and without any payment) the stamp duty is a flat Rs. 200.

• The concessional rate applies when the donee is among specified close relations, such as: spouse; children; parents; siblings; lineal ascendants or descendants; and similar close family members.

• If you gift your house or agricultural land in Maharashtra to your child, spouse, parent or sibling, using a gift deed you pay just Rs. 200 stamp duty (plus whatever nominal registration/processing charges apply).

• If the donee is not a close relative (e.g. a friend or distant relative), the stamp duty will be 3% of market value calculated on the property’s assessed value (or higher of declared value and government ready-reckoner value).

• The “gift” must be genuine: no payment should be involved. If money/consideration changes hands the deed may be treated as a sale, attracting normal stamp duty/charges.

After drafting the gift deed, it must be registered with the local Sub-Registrar Office (SRO), and stamp duty + registration charges must be paid for it to be legally valid.

The stamp duty on gift deed in Maharashtra is 3% of the property’s value, as per Article 34 of the Maharashtra Stamp Act. However, if the property is gifted within the family (to husband, wife, son, daughter, grandson, grand-daughter, or wife of a deceased son), the stamp duty is Rs 200 for residential or agricultural properties. This amendment was introduced in 2017.

Documents Needed to Create Gift Deed Stamp Duty In Maharashtra

When creating a gift deed in Maharashtra, you’ll need the following documents:

• Identification and Proof of Both Parties: PAN card, Aadhar card, Driving license (if available)

• Property Documents: Original gift deed, Sale deed or title deed (to prove ownership)

• Photographs: Passport-sized photographs of the donor, donee, and witnesses

 Hope you found this answer helpful.

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My uncle quite recently asked my father about stamp duty for gift deed in Maharashtra and the factors on which it is based. He asked how much he had to pay. My father said that the stamp duty for gift deed is 3%.of the property’s value. 

What Is The Gift Deed Registration Charges In Maharashtra?

Following this, my father explained a few more details of the gift deed to my uncle. Here is what he explained. 

Following this, my father also said that these registration charges for gift deed in Maharashtra are only applicable for the Mumbai area. 

My uncle then asked my father about the steps that need to be taken for gifting property. 

• My father said that the first step is to make sure that both the donor and donee are competent for the contract.

• As my father mentioned, the next step is drafting the deed with necessary information such as property description, donor and donee information, etc. 

• He told my uncle to consult a legal expert to ensure that all rules and regulations were duly followed. 

• After that, submission of the gift deed to the local sub-registrar office, along with required documents such as property papers, ID proof, etc.. was needed. 

• The next step, my father said, was to pay the gift deed registration charges Maharashtra and have two witnesses present for the attestation of the property. 

And finally, the donne needs to accept the gift deed during the lifetime of the donor. And that was all about the stamp duty for gift deed in Maharashtra.