Is there any expert aware of changes in gujarat property ??
Raj
(Querist) 12 June 2012
This query is : Open
My query is related to Recent change in Gujarat (? Indian) property law that made necessory to make sale deed for registration flat /residence of co operative housing society member.
I had purchased a flat in 2003 in registered co operative housing society in Gujarat.Currently holding possession of it with full rights as per member of society.
We have been issued SHARE CERTIFICATES,allotment letter and possession letter and originals bills from builder( pramukh of co operative society) for receiving net amount for selling flat.
As per our knowledge and belief NO ONE was making sale deed to purchase flat in cooperative housing. And also Bank also did not insist to make sell deed ,like other originals keeping with then untill loan paid up.(now with us)
Now my question is
1- I want to sell this property.Buyer asking for old sale deed and registraion in city survey .This we do not have (in city survay our name comes as possession holder after name of co operative society) .Earlier by paying transfer fee to society and transfering share certificate on buyer name we can sell flat.BUT Recent change(when ?) in law suggest owner to have sale deed and registration with city survey office locally.(i think to calculate capital gain).
Can any expert have solution for this ?(I believe there must be some legal way/exuses for member of co operative housing society.)
To make sale deed at current rate index is easiest ,but expensive option (but again capital gain tax on housing society/builder ?? is also a problem ).
-Can i register my flat with only share certificate along with other application for excuses ?
- Can i make sale deed now as per original purchase amount /bill and register it with little penelty ?
Is there any alternate legal way ?
I need real expert opinion to help client and suggest best,least expensive way.
Thank in advance
