I approached the chairman with this information and he said I need to give 2 cheques one of 25k for society transfer charges and other of remaining value of 2% which will be used as development fee for society. Is this legal?
The law says that 'Amount of Premium shall be maximum Rs.25,000/-. Similarly it shall be Rs.25,000/- or the amount which was approved by the General body meeting of the society whichever is less. The said provision is applicable to all the flat and plot owner’s of society.'
Does the buyer really need NOC? What problems can society create for him if we dont get NOC done. Can society shares be transferred without NOC?
Even though there is no necessity of No objection certificate for transfer of flat, according to rule 24 of the Rule 1961, he has to give 15 days’ notice to society before transferring of flat.
It is necessary to take decision within three months on receipt of the application for transferring the share and the decision should be communicated.
If Society has not taken any decision within the 3 months stipulated period as per provision in Section 22(2) and society has denied such application there is a provision to appeal before the Register u/s 23(2).
If Society does not accept the application of transfer from member, the member can make application to the Society through Registrar of Co-operative Societies.
It is obligatory on the part of the Society to take decision within 60 days on such application received from the Registrar.