transfer of property name in goa

Q: Hello, can someone advice?
My mother in law owned an appartment in Goa.Three years ago we bought it from her and paid cash . we didnot change the property name at that moment.
we are now looking to transfer the property to our name.
we were informed that we could avoid all expenses if she makes an inheritance will stating that the property will pass on to us at the time of her death,

Is this so? IF NOT what are the current percentages of taxes, registeration etc we will have to pay? is it an easy process or should we hire a lawyer, to take care of this since we live in mumbai?
thanks in advance

karen pereira,

26th April 2016

Property Tax in Goa

transfer of property in goa

property law in goa

stamp duty in goa

registration fees in goa

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Replies (4)

Thanks friends for your info, which is of great help! However, as Sankalp says, I think we will hire a local lawyer. Just hoping the procedure of transfer does not take too long though, I hope 2 weeks to will be more than sufficient for the entire process?!

Pereira,

13th January 2017

Comment

Hi Pereira,
Last year, state government has reduced the stamp duty charges on executing sale deed of residential flats and homes. Now, for a apartments or Villas that cost a maximum of 50 Lakh the stamp duty payable would be 35 for every thousand rupees. Where the amount or value of the consideration for such conveyance as set forth therein exceeds 50 lakh, but does not exceed 75 lakh, for every 1000 or part thereof, the stamp duty shall be 40. If the value of property exceeds 75 lakh but does not exceed 1 crore, for every 1000 the stamp duty will be 45 and if the value of the property exceeds 1 crore, for every 1000 the government will charge a stamp duty of 50.

Franklin, Goa

23rd February 2017

Yes, last year, state government has reduced the stamp duty charges on executing sale deed of residential flats and homes. Now, people have to pay only 0.6% stamp duty if they have already executed the sale agreement.

Maxwell, Goa

23rd February 2017

Hi,
Better consult a local lawyer, he has good knowledge about the rules and regulation of Goa and help you in transfer of your property. And if you don’t feel immediately comfortable, walk away. A local lawyer could be useful contacts. Yes, he will charged you some nominal fees but hassle free.

Sankalp, Mumbai

13th May 2016

Comment

Hi!
Documents required by the seller at time time of property registration:- The seller must have the basic title document like Sale Deed, Gift Deed, Will or Court Succession proceedings to prove his title. The recitals, if any in the Sale Deed may indicate the flow of title primafacie. Also survey record Form I & XIV for village property card for cities to confirm lawful and physical possession is a must.

Mark, Goa

13th May 2016

Comment

Usually an agreement can be signed putting on paper the intentions of the parties. Sometimes an agreement styled as Memorandum of Understanding (MoU) is also executed although the Contract Act does not provide for any such MoU. For the last 3 yrs in Goa an Agreement to Sell has to carry a stamp duty equivalent to 1% of the sale consideration. An MoU may be difficult to enforce if objection is taken that it is an Agreement without stamp duty. In the case of registration of the Agreement with 1% stamp duty, only upon delivery of possession are full registration fees (i.e. 2%) payable, if not, only minimum charge of Rs. 100/- is payable.

Shrikant Kejriwal, Mumbai

13th May 2016

Hi,
Here are the detailed information of stamp duty and registration fee applicable in Goa:- 1) Stamp duty structure under Goa Stamp Act is as follows:
a) Consideration Stamp Duty Rupees:- 2500000-5000000= 3%, 5000000-10000000:- 4%, Above Rs. 1 crore:- 5% and, B) Registration fee: 2% on the consideration.

Leena, Goa

13th May 2016

HI Karen,
It is advisable to note that Goa continues to have Portuguese personal law relating to marriage / divorce and succession. Personal laws of different religious communities prevailing in rest of India namely for Hindus, Muslims, Christians etc like Hindu Marriage/Succession Act etc are not extended to the State of Goa. Barring the above major laws and other specific laws referred to hereinafter, rest of the laws relating to property like Transfer of Property Act/ Contract Act, Easement Act, Registration Act, prevailing in India apply equally to the State of Goa.

Sankalp, Mumbai

13th May 2016

Comment

It is true and registration is not to be confused with the registration of Deeds of Sale, Gift and Agreement by the Sub-Registrar under the Indian Registration Act under which the sale of property is registered, whereas under Portuguese law, the title in the land is registered.

Shrikant Kejriwal, Mumbai

13th May 2016