I would like to seek guidance from your expert forum in respect of Laws/Bye laws of Co-op Hsg Societies.
I Had purchased a Flat in Sept 2008 and prepared a Sale Agreement and the same was properly stamped and full applicable stamp duty was paid. But due FOREST LAND issue which cropped up during the said period the Maharashtra Govt had stopped registration of the Documents of Sale of Flats falling under FOREST LAND.
I had requested to transfer the flat in my name to the secretary of the Co-op Hsg Scty. but he refused on the ground that as the Sale Deed is not registered the Flat cannot be transferred in my name.
I would like to ask Whether registration of Sale Deed of Flats is compulsory for effecting transfer of Flat by a Co-op Hsg Scty even when the Sale Deed is fully Stamp Duty paid? Whether the stamp duty office is now telling me to pay the stamp duty on said sale deed again as per current valuation of 2012 as adjudication of Old Documents has been stopped. Are they Correct? Please reply is society correct in refusing transfer of flat when Govt has stooped registration process.
Prakash K Gambani Mulund, Mumbai email@example.com
24 April 2012
In case of resale of flats in a registered Co-operative Society no registration is compulsory as per section 41 of the Maharashtra Co-operative Societies Act, 1960
Section 41 of the Maharashtra Co-op. Societies Act Specifically provides for exemption from compulsory registration of an Instrument relating to shares and debentures of the Society. Nothing in clause (b) and (c) of sub – section (1), of section 17 of the Indian Registration Act, 1908, shall apply to any instrument relating to shares in a society, notwithstanding that the assets of the society consist in whole or in part of immovable property. Therefore, under the said Section it is specifically mentioned that such an Agreement does not require registration. In fact it has been held by Bombay high Court in its Judgement in USHA DONGRE VS. SURESH KOTWAL reported in 1990 Maharashtra Law Journal 306 that such an Agreement does not require Registration . Therefore, such an Agreement is not required registration with the Sub-Registrar of Assurances