Property will not be able to donate for six thousand rupees, one percent registration fee will be heavy on the gift deed

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This news is for those who want to donate their wealth. Even though the government has given relief in the fee for the donation deed, the government has not given any exemption in the registration fee. Due to which the registration fee of one percent is being imposed on the gift deed.

Kanpur, [Alok Sharma]. The government has given relief in fees for the donation deed. After this it was believed that a donation deed would be done for six thousand rupees but it is not so. The two examples given with the news are proof that those donating property to their loved ones will have to pay a registration fee of one percent of the total property value. Due to this, this registration fee on expensive properties will be more than the stamp duty. Actually, the government has not made any change in the registration fee. He has kept only one percent. This one per cent will be applicable on the total value of the property.

case one:

Ashok Kumar of Itra village has donated one bigha of land to sister Shakun, who lives in Nawabganj, Kanpur. In the gift deed, he deposited a stamp duty of five thousand rupees and a registration fee of one percent of the land value of Rs 4100. In this way he completed the gift deed for Rs 9100.

case two:

Biharilal of Nibiakheda has donated 17 biswa land to his brother Raghuraj Yadav. In order to complete the donation deed, he deposited one percent registration fee of Rs 4200 along with stamp duty of five thousand rupees. In this way he deposited Rs 9200.

the new order

Registration fee 1.05 lakh on property worth one crore

Suppose the market value of a property is Rs 1 crore. For donating this property, a stamp duty of five thousand rupees and a registration fee of one lakh rupees will be charged.

old system

Eight lakhs had to be paid on the property of one crore

If the value of a property is one crore rupees, then in the earlier system, seven percent stamp i.e. seven lakh rupees and registration fee was paid one percent i.e. one lakh rupees on the total value.

15 donation deeds done in three days

When the government changed the rules, the number of donation deeds increased rapidly. Earlier, where 25-30 donation deeds were registered in a month, while the fee was reduced, 15 donation deeds were registered in three days. Five donation deeds have been registered in Ghatampur, one in Zone-1, four in Zone-3, one in Zone-4, three in Bilhaur and one in Narwal.

There used to be 300 wills in a month, now it will be reduced

The most economical means of donating property was through a will. The registration department gets it registered at a fee of just Rs 500. If we look at the earlier figures, about 300 wills have been recorded in a month. Since now the government has eased the donation deed process, the cases of wills will almost stop. This is because the person to whom the will is made will be the absolute owner of the property only when the testator is no more. Sometimes cases go to the court regarding the will, due to which the will also becomes disputed.

Said responsible: After the arrival of the new rule, the number of donation deeds has increased rapidly. No order has been received regarding registration fee, so only one percent is being taken for it. Arunesh Narayan Sharma, AIG Stamp