Transfer fee/premium of co-operative housing society
(Querist) 22 March 2018
This query is : Resolved
We are society of total 40 flats in mumbai. developer/builder has developed the plot of land owners. Now land owners are selling flats (unsold) from their quota. But neither developer nor land owner are ready to pay the transfer premium. they are saying that as its not resale, they dont have to pay the transfer fee. but as per my knowledge developer automatically becomes member after formation of society. and as a transferer he has to pay the transfer premium. What is the truth? Kindly advise.
(Expert) 23 March 2018
1. Nothing is Automatic in a CHS. 2. Developer does NOT automatically become a member. 3. Unsold Flats in custody of Developer can be sold and no Transfer Premium is payble. 4. However IF the CHS has issued Membership Share Certificate to Developers Flats, ONLY THEN the CHS can recover the Share Transfer Premium, ELSE NO.