Premium payable to society on transfer of flat
Arun R Deo
(Querist) 29 March 2012
This query is : Resolved
I am giving my case for your kind guidance.
I had a flat in a society at Kothrud, Pune. I transferred the said
flat in the name of my both sons by executing a Sale Deed for the
value as per govt valuation & it was duly registered with the Registrar.
I could have transfer the flat by a Gift Deed. However, banks were not ready to finance to my sons as the Gift deed would be among father &sons. Hence we have done the sale deed.
Our society had refused to transfer the flat in the name of my sons without Transfer Premium & asked us to pay transfer premium of Rs.25000/- on the ground that though the transfer is within the family,there was consideration paid to me. We have to pay the premium.
On this back drop, please guide me whether the premium asked by the
society was correct or not. If not, pl inform me the section/rules
under which the premium asked by the society was incorrect. If there
are some case laws so that I can take up the matter with the society.
We, i.e. my sons have sold the flat, as we want to purchase a bigger one.
pl guide.
ajay sethi
(Expert) 29 March 2012
in case of trnafer of flat within family no transfer premium is leviable . ask the secretary to produce model bye laws adopted by society . it conmtains provisions that no transfer premium is levibale for inter family transfers . it is immaterial whether consideration is paid or not
R.Ranganathan
(Expert) 31 March 2012
I defer from the view of Experts Mr. ajay sethi and Mr. ddpak nair. The bye-laws of the society says that between family members transfer is without premium but in that case the transfer is done without any consideration and not for money. But in the present case consideration has passed on and the member has been benefited. So the society has to be paid premium out of the said benefit. This is like sale to third persons. A person cannot take benefit by both hands. Society is for the members.
