I have a flat in a cooperative society in Kolkata. I got the membership in 2011 after one of the founding member resigned from membership and transferred the same to me with a price.
Now I want to sell the flat and invest in another new flat. But, I was told, that i can only sale the flat at the same price with what I purchased about 8 year back. That amount will be on paper and via cooperative society. Rest amount needs to be exchanged between buyer and seller outside paper. I could not understand the point made by the society members.
In this case, how can a buyer apply for Bank loan, if the price will be that low as of 8 year back? I dont want to make any transaction without bank account.
Can you please help to clarify my query?