Cidco transfer

If he has bought from CIDCO by way of a registered document, CIDCO will transfer in his name first. When you register your purchase deed from the invesotr, CIDCO will use this proof to transfer it in your name.

Also, there is a clause related to unearned income in the CIDCO allotment, which means that for any difference in the purchase and sale price of the investor, a specific % of this difference/or on slab basis is payable to CIDCO. Without this payment and the requisite transafer charges CIDCO will not transfer it in your name.

Please do not use shortcuts as your title will become defective. Nowadays, a few office bearers do the transfer without following the process of law (maybe when they are incentivised) and later the owner has to bear all the penalties and other charges.

Please follow the process of law.

S Jadhav

thanks a lot Sir for your kind advise. i have refused direct transfer of flat in my name. i could make out that the chain of title would be missing in CIDCO books.

coming to my first point-- investor has purchased flat from a builder. he got sale deed registered properly. society not formed, CIDCO transfer in the name of investor not done. should i buy this flat? how would ownership be transferred in my name in CIDCO books as investor's has not got flat transferred in his name in CIDCO books? if i buy this flat, and if subsequently investor doesnot get it transferred in his name in CIDCO books, what will happen?

kindly help,

SKSINHA

Sir, what is the law.... investor/owner should get flat transferred in his name in CIDCO books, before he sells it to me? can he sell even if flat has not been transferred in his name in CIDCO books.

SKSINHA

The law is clear that each time someone purchases the flat, CIDCO has to be notified of the transaction and CIDCO is entitled to a share of the increase in the prices except for the first sale from the builder to the first buyer. Hence, the investor/first buyer should inform CIDCO of the purchase (for which he may not have ot pay any share of the amount). Then you pruchase from the first buyer under a stamped and registered document, inform CIDCO and get the trasnfer done by paying appropriate transfer fees adn a share of the unearned income.

A person may sell or transfer the flat with a stamped and registered deed but the transfer in his name will not take place until he informs CIDCO and pays the requisite transfer fees and a share of unearned income. So the flat will not be transferred in the new buyer's name. CIDCO will still have the earlier buyer's name. Next time when this person tries to sell, he will not have a document to show that the flat in his name (except for the registered deed). CIDCO may later transfer it in your name if you apply but they may apply penalty and the process may be long too. CIDCO can even file a case on you for not informing CIDCO for transfer in your name and concealing the information.

S Jadhav

Dear Sir,

I have bought a flat in navi mumbai in 2008 through a estate agent. I was not having proper information about Cidco Transfer hence while buying the property i didn't enquire about the same. I was told that i have to pay a single Cidco transfer charge after registration.

Since there was a conveyence deed issue about the society,  the society commitee told me the share certificate transfer is not possible at that time. Now the conveyance deed of the society has been done. I came to know that the second owner of the flat has not done CIDCO transfered in his name hence i have to bare double transfer charges. Also i have to trace the first as well as second owner of the flat for CIDCO transfer who are unlocatable.

Please help me and guide me with further procedure.

Regards,

Sunil S.

DEar Jadhav Sir,

I have purchase a flat in Navi Mumbai and I am staying there in since 2009.I am confused on the flat not being transferred by the builder.Could u tell me the process of the same as i am desperate to do CIDCO transfer.Actually in my building 4 flats are there,one flat on one floor and it is four story building.So suggest us the way forward.

The water bill and property tax are coming on the name of its original owner from which the land was purchase by builder.Now we want the name of the original owner to be removed.Is there any process to replace our name?

Please guide..

Dear Sunil

I am also facing same problem can you share your experince, how you solved these issue??

Regards,

Mukesh

76669527600

Respected Jadhav Sir,

Thanks to your categorical reply, I got out of a doubtful deal. Now i have purchased another flat in Koperkhairane,taking all care. OC is not given by NMMC. Builder delayed, hence he allowed us to stay in the flats. 5 owners have shifted with family. Builders job is almost done. 

But now he is asking  for Property tax from owners. Is it legal? Are we obliged to pay.

With very high regds,

S K Sinha,9619059893

Koperkhairane,

Respected Jadhav Sir,

Thanks to your categorical reply, I got out of a doubtful deal. Now i have purchased another flat in Koperkhairane,taking all care. OC is not given by NMMC. Builder delayed, hence he allowed us to stay in the flats. 5 owners have shifted with family. Builders job is almost done. 

But now he is asking  for Property tax from owners. Is it legal? Are we obliged to pay.

With very high regds,

S K Sinha,9619059893

Koperkhairane,

Sir,

We own a house in Airoli, Navi Mumbai. We have taken  loan from one bank and now after 5 years we are transferring it to another bank. As bank's procedure, we need NOC from CIDCO favoring the new bank.  The bank has sanctioned the loan ,however the amount will be dispersed only after NOC is received from CIDCO. As my husband owns this flat, he had been going to CIDCO from November 2013. The concerned department has been constantly sending him from one department on the first floor to another on the 7th floor to check the status and availability of file. Finally the department on 7th floor says the file as been sent to the department on the 1st floor. However, the 1st floor department denies having received it.  The department's Head also refuse to help us.We tried if any internal agent working for CIDCO could find. Even he failed to locate the file. FINALLY the File is said  to be MISSING. 

Could you help us with the correct procedure to locate the file and obtain NOC since it has been more than 5 months.

I want to buy a resale property in New Panvel. The society is registered and they received plot for development from CIDCO. If I bought this property I will be the fourth owner.  CIDCO transfer charges are not paid by previous all owner.

My questions are

Do I need to pay CIDCO transfer charges for all the transfer? I mean for all previous owner.

Can single flat owner pay the CIDCO transfer charges if the conveyance deed of the society is not done?

I have CIDCO property and I am a second owner and my property is in under shedule cast category. and the property old is more than 10 years. So can i sell my property to anyone or only to category cast people?