Answered on November 06,2022
Gifts have always been one of the best options to express your love to your family members.
You can easily transfer your immovable property to your family member as gift. The best part is that stamp duty & registration fees are very less for gift deed registration.
As an NRI, just 3 step process to gift the immovable property
- Power of Attorney (POA)
- Pay government charges (Stamp Duty & registration fee)
- Gift Deed Registration
Let me narrate this answer with real examples for your better understanding
Mr Chaitanya lives in Newzealand, he owns a 2BHK flat in Aditya vintage apartment in South Bangalore, Mr Chaitanya wants to gift this property to his father Mr. Ramayya, so
Mr Chaitanya gave the General Power of Attorney (GPA) to his father Mr. Ramayya. Below is the image of GPA.
Mr Ramayya paid the government charges, which include stamp duty & Registration fees to register the gift deed. Below is the payment receipt
Using the above GPA, Mr Ramayya registers the gift deed to himself.
Mr Ramayya signed the gift deed on behalf his son Mr Chaitanya (donor) and himself (donee).
Below is the image of registered gift deed