| Question And Answer | |
|---|---|
| Subject: | Wether release of right in the property , will attract stamp duty ? |
| Category: | General Law |
| Querist: | Rattan |
| Answered by: | Advocate Rahul Hakani |
| Tags: | Release deed, Stamp Duty |
| Date: | May 11, 2021 |
I am the co-owner of an ancestral flat in Mumbai with my sister. I want to release my share in the flat to my sister for a certain amount.
Will this be a release deed with consideration ?
What will be the stamp duty since this is ancestral property if consideration amount is mentioned in the release deed ?
A release deed for consideration will attract stamp duty as per Article 52 of the Maharashtra Stamp Act, 1958.
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