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What is gift deed?
A Gift Deed is a transfer of an immovable property, voluntarily from the Donor to the Donee without the involvement of any monetary consideration. The person who is gifting the property is the Donor and the one accepting the gift is the Donee.
The Donor should be the absolute owner of the property before initiating the Gift deed conveyance. Once the Donee accepts the gift being offered by the Donor, the Donee will become the absolute owner of the said property. The Donor will cease to have any rights over the property. The property details should be captured in the Schedule of the property.
In case there are any liens or mortgages on the property, a no objection certificate (NOC) from the bank would be required to register the Gift Deed.
Gifting to a family member like father, mother, husband, wife, son, daughter, daughter-in-law, brother, sister, and grandchildren attract the least amount of stamp duty.
Gift deed format
It contains the following details and clauses -
- Date on which gift deed is being executed
- Name, Age, Address Details of the Donor
- Name, Age and Address Details of the Donee
- Relationship between the Donor and Donee
- Declarations made regarding encumbrances of the property by the Donor
- Statement of acceptance of the gift by the Donee
- Complete Schedule of the property
- Signatures of Donor, Donee and the Witnesses
These are the additional documents which are required for gift deed registration
- Khatha certificate and extract
- Latest tax paid receipts
Gift Deed Stamp duty and registration charges in Bangalore calculation
At the time of registration of the gift deed at the sub-registrar’s office, stamp duty & registration charges need to be paid to the government. The stamp duty varies depending the Donee is a family member or not and on the property jurisdiction.
Stamp Duty and Registration fee structure
| Charges Head | Donee Type | Areas | Charges |
|---|---|---|---|
| Stamp Duty | Family | BMRDA/BBMP/ City Corporation limits | Rs. 5,000/- |
| Family | City or Town Municipal Council or Town Panchayat Area | Rs. 3,000/- | |
| Family | Limits outside both of the above | Rs. 1,000/- | |
| Non-Family | All | 5% of guidance value | |
| Surcharge | Family | BBMP & Corporation | |
| Family | BMRDA & other Village Areas | 3% - of the stamp duty i.e. 0.15% of the total sale consideration or guidance value whichever is higher | |
| Cess | BBMP, Corporation, BMRDA & other Village Areas | 10% - of the stamp duty i.e. 0.5% of the total sale consideration or guidance value whichever is higher | |
| Registration Fee | Family | All Areas | Rs. 500/- |
| Non-Family | 1% - guidance value | ||
You will need to prepare Demand Drafts(DD) in favor of the Sub-Registrar and bring them along on the day of registration along with other documents. E.g. If you are registering the property at Indiranagar sub-registrar office, the Demand Drafts should be prepared in favor of “Sub-Registrar Indiranagar”, payable at Bangalore. The breakup of the DDs will be as follows,
What is guidance value and how is it calculated?
For guidance value click here to explore more.
How to decide which sub-registrar office you need to register your property?
It is decided after looking at property title and khatha. Here is a list of the sub-registrar offices in Bangalore.
Do we need a regestration for gift deed required for family tree deatiles so please upload
Thanking you
Hi sir I am purchasing a property in Hebbal my question is the property is in gift deed amoung mother the mother is gifting the property to second son elder son and daughter so I want purchase that property they haven't paid any tax still now it's a constructed house ground and first floor.266 SQ feet my question is how much they will charge to convert for b Katha
Dear Prashanth,
As far as your query is concerned, a B Khatha property cannot be converted to A Khatha as of now as the same is pending consideration before the Supreme Court. The State Government had introduced Akrama Sakrama in order to provide an opportunity to the land owners to rectify the illegality. However, foreseeing that many land developers who have encroached upon lakes, storm water drains etc., could get away by paying nominal penalty, the same was challenged. Until the status of Akarama Sakrama is decided, you cannot pay betterment charges and obtain an A-Khatha. I hope that rectifies your query.
hi, my father wants to transfer a portion of commercial property in my mother's name through a gift deed . i want to know how can we go about this process.
thank you