I am planning to purchase an under-construction flat in a residential project from the original allottee of the flat. What is the stamp duty payable?
—Mahinder Gill No stamp duty is payable on a mere transfer of an allotment of the flat by the present allottee of the flat in your favour. Transfer of allotment of a flat is simply a transfer of the right to purchase the flat by the original allottee in your favour. My deceased grandfather left behind properties in both the UK and India. The will of my deceased grandfather has been proved and deposited with a Court in England. What is the procedure to be followed for administration of his properties that are situated in India?
—Roshan Sunder As the will of the deceased has already been proved and deposited in a court of competent jurisdiction outside the territory of India, a petition under the Indian Succession Act, 1925, may be filed for grant of letters of administration or ancillary probate by the competent court, as the case may be, within whose jurisdiction the properties are situated in India. I am the sole owner of a flat and want to include my wife as a joint owner of the flat during my lifetime. Can I relinquish my ownership in half the property in favour of my wife, as I do not want to take any consideration amount from her?
—T K Manish Presuming that the flat is a freehold property and that transfer of any rights does not require any prior permission, a valid relinquishment of property cannot be made in favour of a person who is not already a co-owner of the property. As you are the sole owner of your flat, a transaction of relinquishment of ownership of a portion of the flat in favour of your wife shall be treated as a gift/sale/conveyance in her favour instead and shall also be subject to stamp duty and registration charges payable on gift/sale/ conveyance accordingly. If you wish to transfer ownership of the property during your and her lifetime without taking any consideration amount from your wife, you may execute a gift deed in favour of your wife for half, undivided portion of the flat. The gift deed should also be duly stamped and registered.