Transfer of residential property in mumbai

varuns (Querist) 26 March 2015 This query is : Resolved
Hi,

I was hoping to get some legal advice on Transfer of Residential Property in Mumbai.

(Q1) In case of a sale to an unrelated party (no blood relation or any thing like that), what are the documents to be submitted to the Co-operative Society for the NOC ? Is it the responsibility of the transferor or the transferee to get the NOC from the society?

(Q2)Is society NOC compulsory for registration of the transfer?

(Q3) When do the transfer charges have to be paid to the Society? Is it when NOC is issued or when transfer deed is registered?

Thanks in advance!

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Kishor Mehta (Expert) 26 March 2015
Sir,
(A1)Application forms in 20(1) & 20(2) to be submitted to the society for NOC. It is the responsibility of the Transferor.
(A2)It is not compulsory, however it is advisable, for the purchaser.
(A3)Transfer charges are to be paid after the deed is registered.
Good Luck,
Kishor Mehta

Rajendra K Goyal (Expert) 27 March 2015
Agreee with the expert Kishor Mehta.

ajay sethi (Expert) 27 March 2015
NOC is not compulsory . transfer fees payable at time of application for transfer

T. Kalaiselvan, Advocate (Expert) 30 March 2015
The sale deed is to be registered but the transfer of share certificate need not be registered. The transfer fees to be payable at the time of transfer only.