HT Estates - - HTESTATES - Su­nil Tyagi

My wife is de­sirous of gift­ing me a prop­erty which she will in­herit from her fa­ther on his death. Can she ex­e­cute a deed of gift in my favour in re­spect of the said prop­erty?

—A Ma­ha­jan A per­son can only gift his / her ex­ist­ing prop­erty. A gift of prop­erty which a per­son does not own at the time of ex­e­cu­tion of gift deed would not be con­sid­ered a valid gift. Thus, your wife can­not ex­e­cute a valid gift of a prop­erty in your favour till the time she in­her­its and be­comes the owner of such prop­erty.

I am a for­eign na­tional . Be­ing a ci­ti­zen of Aus­tralia, I keep com­ing to In­dia for work and per­sonal trips. Can I buy a res­i­den­tial prop­erty in In­dia? Al­ter­na­tively, can I take a prop­erty on rent?

—Preeti Pant Be­ing a for­eign na­tional of non-In­dian ori­gin and re­sid­ing out­side In­dia, you can pur­chase an im­mov­able prop­erty in In­dia only with the prior ap­proval of the Re­serve Bank of In­dia. How­ever, you can take the res­i­den­tial prop­erty on lease for a max­i­mum pe­riod of five years for which no prior ap­proval of the Re­serve Bank of In­dia is re­quired.

My hus­band and I want to pur­chase an apart­ment in Delhi. We have heard that women get cer­tain ben­e­fit in stamp duty if prop­erty is bought in their name. Please clar­ify.

— Rashmi Ras­togi Stamp duty is payable de­pend­ing upon the con­sid­er­a­tion for sale/pur­chase of the im­mov­able prop­erty as set forth in the sale/ con­veyance deed or as per cir­cle rate of the im­mov­able prop­erty, which­ever is higher. The stamp duty rates along with mu­nic­i­pal cor­po­ra­tion tax payable on sale/pur­chase of an im­mov­able prop­erty in Delhi vary be­tween 4% and 6%. If prop­erty is pur­chased in the name of a woman, the stamp duty along with mu­nic­i­pal cor­po­ra­tion tax is payable at the rate of 4% and if pur­chased in the name of a man it is payable at the rate of 6%. If the prop­erty is bought jointly by man and woman then the rate will be any where be­tween 4% to 6% de­pend­ing upon the share of woman and man in the prop­erty so pur­chased.

The au­thor is a se­nior part­ner at Zeus Law, a cor­po­rate com­mer­cial law firm. One of its ar­eas of spe­cial­i­sa­tions is real es­tate trans­ac­tional and lit­i­ga­tion work. If you have any queries, email us at ht­es­tates@hin­dus­tan­ or

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