What is the formality to partition a property?

Q: I have built five apartments in a piece of land. I want to partition the document into two one having 3 apartments and the other having 2 apartments. What is the procedure to do it? Whether there is any tax implication?

Karthigeyan Srinivasan,

17th February 2017

Legal in Chennai

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In case, the partition is happening by mutual consent, a partition deed is executed by the co-owners. The partition deed is required to be registered at the office of the sub-registrar of the place where the property is situated as in case of any other registration.

The stamp duty payable in such a case is Rs 1,000 for each share of the property. Further, the registration fee will be Rs 500. More than one person may jointly own a property.

Ram Gopal, Chennai

20th February 2017

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The process for partition of a property differs from state to state and the type of partition that is being sought. Partitions come in two general forms: judicial partitions and voluntary partitions. Among these two types of partitions, there are several means of splitting property: partition in kind and partition by sale. How the proceeds or land is divided will then depend on the type of tenancy that the parties originally entered into. You can read about it in details here http://real-estate.lawyers.com/residential-real-estate/partition-action.html

Sudhakar , Chennai

20th February 2017

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