1) when transfer is within family no transfer charges are payable to the society
Transfer premium payable to society on transfer
I am Co-member of the flat in Mumbai jointly with Mother ,Brother and Me.I purchased the same flat by paying Mother and Brother their Share. 2/3 of the market Price by making Sale Agreement, I paid Stamp Duty and Registration Fees , Please inform do I have to pay Transfer Premium my housing Society on Transfer the flat in my sole name.I am ready to Transfer Fee ,
Asked 7 years ago in Property Law
Religion: Hindu
9 Answers
if the rights are transferred between family members then no transfer charges are payable to society
in all other cases transfer fee of max 25k is payable
See since you are co-owner and member you need not necessarily pay for the transfer of the membership. Move an application to remove there names and keep your name in same.
As per the society rules you have to pay the transfer charges as your property is now being transferred in your name and you was the shareholder now you are the owner of the apartment.
My society is insisting me to pay Transfer Premium even though I am Co-member and it is family Transfer between Co-member. As we have made Sale Agreement between Me and Mother, Brother with Consideration.Please inform under which section of Co-Operative Society Bye Law that I am not required to pay Transfer Premium so that I can give Proof to them.
Asked 7 years ago
https://sahakarayukta.maharashtra.gov.in/site/upload/documents/Housing%20Manual%202012%20English.pdf
Housing manual Government of Maharashtra refer page 24 point 14.
Under section 79 (A) of the Maharashtra Co-operative Societies Act, 1960.
Bye law 38 of model bye laws provide no transfer premium is payable for transfer between family members
Since your mother and brother have been a share holders earlier, you want to transfer their shares to your name, you may have to pay the transfer fee, however in some associations, they dont charge transfer fee for transfer within relationship.
You may go through the bye laws for this purpose.
Since this is considered as transfer to your name, you will be insisted to pay the transfer fee.
You may go through the bye laws of the society for more clarity.
You may ask the society to quote the relevant laws for insisting on this payment.