TMR: All you need to know about wills & gift deeds!

Real estate has been one of the most preferred investment options globally. No doubt these immovable assets are India’s favourite when it comes to investments, legacies and bequeathing. However, thorough estate planning is essential to minimise any issues that may crop up in the future with regard to both, immovable and movable property.

There are two ways of passing on your assets to your loved ones. Through a will or a gift deed. Let us understand the difference between both and how to go about planning your will and gift deeds in this blog.

What is a will?

A will is a ‘written expression of the intention of the Testator (maker of the Will) as to the mode and manner of division of his/her properties (movable and/or immovable) to such person(s) as he/she may deem fit.’ To put it simply, it is a legal document written while the testator is alive and takes effect after his or her death.

How to make a will?

Any individual who is competent and of sound mind can bequeath his/her assets by making a Will. It can be written either by the Testator, or his agent and must be attested by at least two people, who are third parties to the will. While there are no prescribed formats when it comes to writing your will, the following points need to be covered:

  1. The name/s of Testator’s legal heirs and/or family members, if any;
  2. The name of the person/s to be appointed as ‘Executor’ who will carry out the directions and requests of the Testator in the Will. They will be in charge of the management and disposition of the assets there in the will;
  3. Details of all the assets owned/acquired by the Testator till that point, and;
  4. The mode and manner of distribution of the Testator’s assets

It is not necessary to register a Will to render it enforceable. A will can also be revised a number of times till the Testator is alive. Experts however advise getting it registered to minimise potential disputes amongst the heirs in future

What is a gift deed?

A gift under Section 122 of the Transfer of Property Act is defined as the transfer of asset/property made without consideration by a donor (asset owner) of his own free will. A gift is transferred during the lifetime of the parties and takes effect, subject to acceptance and/or delivery, etc. immediately upon the registration of the gift deed or immediately upon delivery and acceptance thereof in the case of movable property.

In layman’s terms, a gift deed is an agreement made between a donor and a donee that outlines the simultaneous and reciprocal act of giving and receiving. For a gift to be valid, it must be given voluntarily rather than under duress and without the exchange of money.

How to make a gift deed?

There are two key points to be noted when it comes to gift deeds:

  1. Acceptance: It is a legal necessity that the gift is accepted by the recipient after it has been executed and during the donor’s lifetime. If the donee does not accept the gift, it becomes void.
  1. Acceptance: It is a legal necessity that the gift is accepted by the recipient after it has been executed and during the donor’s lifetime. If the donee does not accept the gift, it becomes void.

A gift cannot be revoked, unless both the parties, i.e, the donor and donee agree to the same. At the same time, if the gift is intended to be made in favour of a person who is not your relative, and the value of the property which is the subject matter of the gift exceeds INR 50,000, as of the date of the gift, the recipient of such property has to include the market value of the property in his total income in the year of the receipt and has to pay the appropriate tax on such gifts.

Wills and gift deeds both have their own share of pros and cons. One has to consider multiple points before deciding on a specific course of action. Having said that, both are a symbolic representation of your love towards your near ones. Making the right investment choices which are beneficial to you and your family even in the future is a must. With TMR Group, invest in plots of the future that bring assured profitable returns in the future. These plots in and around Hyderabad are located in the midst of development projects and offer massive development scope and ROIs. To know more about these future lands, visit


Hyderabad has been thriving as one of the most vibrant real estate markets in the country. For numerous years, the city’s real estate outperformed the national average. The availability of affordable housing, a booming tech sector, and state initiatives were among the causes for the same. Even when other cities suffered losses, the real estate market in Hyderabad witnessed a high.

The real estate market here is credited for being disciplined, which, along with robust infrastructural development across the city, has enabled the sector to maintain an equilibrium of supply and demand. Despite the pandemic, the city’s real estate market remained quite active last year and was among all top cities – both in terms of sales and new launches. Many realtors and developers profited handsomely from this growth. However, the tendency is now shifting.

Despite numbers claiming that the realty sector picked up after the COVID-19 pandemic, the unsold residential inventory in Hyderabad has been more than 50% due to a significant number of under-construction projects. Let’s together understand what is causing this rise in unsold properties in Hyderabad. 

The rise in unsold real estate inventory:

The sale of apartments in Hyderabad has declined in the previous few months. Experts suggest that there are a startling 1 lakh unsold flats in Hyderabad. One of the reasons is multi-story buildings with a large inventory and little demand. The rise in costs is another key concern, as many purchasers are reconsidering their purchases. According to many media sources, there are nearly 80,000+ unsold flats in Hyderabad. This substantial unsold housing stock has made Hyderabad amongst the top southern cities, including Bengaluru and Chennai, with an increasing unsold real estate inventory.

Factors responsible for the rise in unsold real estate inventory:

City-based realtors point out that the cost of construction, registration charges and land rates have gone up in the past year, thus increasing the cost of under-construction apartments and to-be-built houses. Many houses which were built are left unoccupied due to high property rates. The cost of flats has increased marginally and, in turn, made them unaffordable. High inflation and the work-from-home culture have, in a way, aided this decline.

At the same time, land prices in and around Hyderabad have skyrocketed in the post-pandemic era. Rising steel and cement prices, labour expenses, and other inputs have, in turn, increased the cost of goods.

A study has revealed the unsold inventory rose by 55% Y-o-Y as the city saw a spurt in launches over the last few months. A large proportion of the unsold units are currently under construction.

A resilient market:

Despite the unsold inventory, the city has seen resilient demand for property, which is led by employees in the tech sector. The overall housing prices in Hyderabad, therefore, rose by 8% Y-o-Y. The spike in property prices is predicted to have little impact on home-buyers sentiments as their outlook towards the overall economic scenario and income stability have improved in the post-pandemic phase.

Among the main micro markets that have seen a surge in demand for residential units in Hyderabad are Ghatkesar, Malkajgiri, Medchal, Banjara Hills, Gachibowli, Kondapur, Kukatpally, Miyapur, Nanakramguda, Boduppal, Karmanghat, Kothapet, Maheshwaram, Puppalguda, Shaikpet and Shamshabad. The demand and the growth prospects in the vicinities of these regions have made these pockets the hotspots for residential markets today.

With TMR Group, own a piece of land in the growth hotspots of Maheshwaram and Chegunta. These blockbuster plots offer profitable returns on investment, with several development opportunities being proposed and developed around them. To know more about TMR Group and our plots, visit

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