Response

Yes you can transfered it through gift deed.

Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. Like a sale deed, a gift deed contains details of the property, the transferrer and recipient. But instead of a sale consideration in a sale deed, a gift deed allows you to transfer ownership without any exchange of money.

Registering a gift deed with the sub-registrar is mandatory as per section 17 of the Registration Act, 1908, and as per section 123 of the Transfer of Property Act.

If you donÕt do this, the transfer will be invalid.

Besides that, once a gift deed is registered in the name of the recipient, only then can she apply for mutation of the property. Mutation is necessary to transfer utility connections in the name of the recipient. Also, for the recipient to be able to further transfer the property, a registered gift deed will be required.

WHAT ARE THE CHARGES?

Stamp duty and registration fee has to be paid to register a gift deed. In some states, stamp duty rates for property transfer by way of gift is the same as for sale or conveyance deed.

However, rules vary across states; certain state governments even offer some concession if the property is being gifted to blood relatives. For instance, in Delhi, the stamp duty in case of property transfer by way of sale or gift deed is the sameÑ4% for men and 6% for women. In West Bengal, the stamp duty for sale or conveyance deed is 5% of the propertyÕs market value in panchayat areas, and 6% of market value in municipal areas.

In case of a gift deed, the rate is the same if the property is being gifted to a non-family member. If recipient is a family member, then only 0.5% of the market value of the property has to be paid as stamp duty.

Reference: Section 122 in The Transfer of Property Act, 1882
122. ÒGiftÓ defined.ÑÒGiftÓ is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee. Acceptance when to be made.ÑSuch acceptance must be made during the lifetime of the donor and while he is still capable of giving. If the donee dies before acceptance, the gift is void. – 202100202-20210042-20188 –

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