Check out Bollywood stars who have gifted properties to their children
Guess which property has Amitabh Bachchan gifted to his daughter?
Photo Credits: Instagram/@amitabhbachchan
Bollywood star Amitabh Bachchan recently bequeathed Pratiksha bungalow, the first of the five family homes in Juhu, to his 49-year-old daughter Shweta Nanda as a gift.
Photo Credits: Instagram/shwetabachchan
The property was transferred through two separate gift deeds for two plots registered on November 8, 2023. The first plot measures 9,585 sq ft and is valued at ₹31.39 crore while the second plot is spread over 7,254 sq ft and is valued at ₹19.24 crore.
Photo Credits: Instagram/shwetabachchan
Is Ranbir Kapoor planning to register his new bungalow in Raha's name?
Photo Credits: Varinder Chawla
Some media houses have reported that Ranbir Kapoor plans to have his new bungalow registered in the name of his daughter, Raha.
Photo Credits: Varinder Chawla
The house will cost more than ₹250 crore once it is fully complete and will become the most expensive bungalow in the Mumbai area compared with Shah Rukh Khan’s Mannat and Amitabh Bachchan’s Jalsa.
Photo Credits: Instagram/@aliaabhatt
This is why some people gift their property instead of willing it.
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Most people gift their property during their lifetime to the intended beneficiary in order to give finality to estate planning. This is to avoid family disputes and litigation among legal heirs in future.
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Here’s how you too can gift a property to your children.
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The gift of a property must be done by way of a written instrument known as the gift deed.
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This should be signed by both the donor (who transfers his property) and the donee (who accepts such a gift) along with two witnesses.
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The description of the property and personal details of both the parties and the relationship between them should be clearly mentioned in the instrument of gift.
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While gifting a property remember that they can only gift their existing property and not a future property.
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The stamp duty has to be paid before execution of the gift deed. The applicable registration fee has to be paid at the time of registration of the gift deed with the concerned sub-registrar.