Transfer of flat in co-op hsg society
Amol Rajadhyaksha
(Querist) 14 April 2014
This query is : Resolved
My query on transfer of flat in co-op housing society is in 2 parts:
1. As per the Act and Rules of Co-op Hsg Society, a member cannot transfer his interest / share before completing one year of memberhip. Does that mean that owner cannot sell / transfer his flat to a buyer within year of society formation? Would it be illegal?
2. Can the society charge over and above the maximum of Rs. 25000 as transfer premium or in any other form such as voluntary donation? Is the transfer fee different for 1 BHK and 2 BHK flat owners? Can the fee be modified by change of model bye-laws?
Require urgent help since I am finalising a purchase. Thanks in advance.
Regards
Amol
Dr J C Vashista
(Expert) 15 April 2014
1. Cooperative Societies Act is a State subject, which differs from state to state. 2. However, there is no bar as such (transfer of flat within one year of membership) in Delhi Cooperative Societies Act, 2003 (even the repealed 1972 Act).
3. If it is a bar, then yes, sale transaction is illegal.
Engage local lawyer.
Raj Kumar Makkad
(Expert) 15 April 2014
1. The period starts from the date of the purchase and not from the date of the formation of the society.
2. society cannot charge over the prescribed fee for the transfer. There may be different amount for the transfer of different categories of the flats/properties in the bye-laws of the society.
Rajendra K Goyal
(Expert) 15 April 2014
Agree with the expert raj kumar makkad ji.
ajay sethi
(Expert) 15 April 2014
society cannot charge more than Rs 25,000. transfer charges are same fr 1 bedroom / 2 bedroom flat . .
Hemant Agarwal
(Expert) 15 April 2014
Subject to Maharashtra State: (MCS Act & Rules)
1. Transfer of Society Membership (Share Certificate) .AND. Transfer of Tile-Ownership are totally two different things.
2. U/s 29(2a) a member has to hold the membership for one year before transferring his membership. However, the title-ownership can be easily, transferred without any legal time-bar, and as many times as possible.
3. Membership can be applied to the society after one year to comply with section of 29(2a)
4. payment of "Share Transfer Premium" is mandatory and is restricted to 25000/- irrespective of Flat size (in metropolitian cities /Municipal corporation areas) and no other amount can be collected, at least legally.
Keep Smiling .... Hemant Agarwal
http://hemantagarwal21.blogspot.in/?view=sidebar
T. Kalaiselvan, Advocate
(Expert) 15 April 2014
I agree with the opinion rendered by expert Mr.Hemant on the subject, nothing more to add.
