LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

PANKAJ   12 December 2022

Regarding share certificate

 I have purchased new residential house property in Mumbai and also i have handed over my all set of documents to society for transfer of shares certificate in my name & I have paid  required fees as per norms. But society has not yet transferred the same, society demand 1 lakh rupees more .....what can i do  


 3 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     12 December 2022

From whom did you purchase the property from the Society, from the builder or from a seller member?  Has the purchase been registered with stamp duty paid? Have you got occupation of the flat. Please give all details.

SHIRISH PAWAR, 7738990900 (Advocate)     12 December 2022


For transferring the flat society can at the most demand 25000 not more than that. Society can also demand the outstanding society dues in addition to transfer fee. You may approach the Co Op. Registrat against the society. 

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     15 December 2022

The Model Byelaws of Co-operative Housing Societies approved by the Registrar of Co-operative Societies in Maharahtra say regarding consideriing the applications for membership and transfer of flats as follows:

Byelaw No. 38(ix) Payment of amount of premum at the rate to be fixed by the General Body Meeting but within limits as prescribed under the circular issued by the Department of Co-operation/ Government of Maharashtra* from time to time. No additional amount towards donation or contribution to any other funds or under any other pretext shall be recovered from transferor or transferee.

* The present limit is Rs.25000/- Even that has to be passed by the General Body and not otherwise.

Byelaw No. 39(b) A meeting of the Committee or the General Body, as the case may be, shall not refuse any application for admission to membership or transfer of shares and interest in the capital/property of the society except on the ground of non-compliance of the provisions of the Act, the Rules and the Byelaws of the Society or any other law or order issued by the Government in exercise of statutory powers vested in it.

Byelaw No.39(c) If the decision of the committee/general body meeting as the case may be, on the application for transfer of shares and/or interest in the capital/property of the Society is not communicated to the applicant within 3 months of its receipt, the transfer application shall be deemed to have been accepted and the transferee shall be deemed to have been admitted as a member of the Society as provided under Section 22(2) of the Act.

Have you physically occupied the flat? If not do so immediately.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »

Post a Suggestion for LCI Team
Post a Legal Query