India - Property
Property Gift Deed
Legal document for gifting immovable property to family members or others without monetary consideration.
Fill Your Details
Live Preview
Start filling the form to see your document preview here...
Instructions
How to execute a Property Gift Deed:
1. Gift of immovable property must be in writing and registered.
2. Clearly state the relationship between donor and donee.
3. Mention 'natural love and affection' as the consideration.
4. Property must be accurately described with boundaries and survey numbers.
5. Both parties must be present at Sub-Registrar office for registration.
6. Stamp duty for gift deeds varies by state and relationship.
7. Gifts to close relatives often have reduced stamp duty.
1. Gift of immovable property must be in writing and registered.
2. Clearly state the relationship between donor and donee.
3. Mention 'natural love and affection' as the consideration.
4. Property must be accurately described with boundaries and survey numbers.
5. Both parties must be present at Sub-Registrar office for registration.
6. Stamp duty for gift deeds varies by state and relationship.
7. Gifts to close relatives often have reduced stamp duty.
Frequently Asked Questions
Is stamp duty applicable on gift deeds?
Yes, but many states offer reduced rates for gifts to close blood relatives. Rates vary from 2-5% for relatives vs full rates for others.
Can a gift be revoked?
Generally no, gifts are irrevocable. However, if made under fraud, coercion, or if donee is guilty of ingratitude, revocation may be possible through court.
Are there tax implications?
Gifts to specified relatives are tax-exempt. Gifts to non-relatives exceeding Rs. 50,000 are taxable in the donee's hands.
Can I gift property with a loan?
Yes, but the donee takes the property subject to the mortgage. Bank's NOC may be required if the loan is outstanding.