372. Transfer of property from

father to son in India

Q: Hi, I am an Australian Citizen (acquired sep 2010) with OCI- Overseas citizen of India (acquired July 2011). My father is an Indian Citizen and currently he lives in Delhi. He already willed his property to me. He wants to legally transfer his property on my name permanently without creating any scene for litigation from anyone else. Can I be legally transferred his property being on OCI? If not, what's the easiest alternate way of transferring it on my name apart from "will" and the cost involved. Thanks. S. Gulati A. Your father can transfer the property to you legally if he so desires. Property transfer can be done by way of: 1. Gift 2. Relinquishment Deed Gift and Relinquishment Deed must be registered to be valid. When property is gifted to a relative, even though there is no payment made for the property, stamp duty has to be paid. When property is gifted, there is no sale consideration involved as no money changes hands. The amount of stamp duty payable in such cases is calculated based on the Circle rate fixed by the government for the area where the property is located. Circle rates are discussed in my book 'THE NRI GUIDE 2012/2013' from page number 164. OCI status makes no difference when it comes to transferring property in India between father and son. Please Note: There are cases where people simply get a 'No Objection Certificate' (NOC) from relatives. Such an NOC can be challenged in a court of law and voided. The NOC document should be signed in front of a Notary Public. In case of a person residing abroad, they should sign the NOC in front of an Indian consulate official and get the appropriate stamp on the document.