I have purchased a house in Malleswaram jointly with my wife. The sale deed is registered in me and my wife’s name. However, I want to transfer the entire property to my wife. Have I to execute a sale deed in favour of my wife. If so what are the stamp duty and registration charges?
Your wife is joint owner of the property. As such there is no need for separate conveyance. You may execute a Release Deed, releasing your share in property in favour of your wife. The stamp duty is Rupees One Thousand only in case of Releases in favour of spouse. Alternatively, you may execute a gift deed, gifting your share in the property in favour of your wife, where the stamp duty is Rupees One Thousand only. Both the deeds require registration. The registration charges are Rs.500/- for release and gift in case of family members.