Transfer fees in case of pagdi system.
sushil v panchal
(Querist) 11 December 2012
This query is : Resolved
Hello Experts,
I need your advise in knowing the legal percentage for Transfer fees. I live in a pagadi system chawl in Andheri-east. I want to sell-off my home and will be shifting to someother place. I have already set the deal with the buyer. When I went to my landlord for name transfer, he is saying the the deal amount that I am telling him is undervalued. I told him my condition. We are residing in this chawl since 40 years. Landlord is asking 7.5Lakhs for name transfer. Can you please let me know what is the Legal Transfer fees for name transfer, I have agreed to sell my room at 19Lakh.
Secondly, landlord is also saying that to sell this room to him for 14 lakh and 5 lakh to him again towards name transfer to him. Is it viable to pay transfer fees if we are selling to landlord itself?
Thanks a lot and awaiting for your responses.
Mr. Panchal
ajay sethi
(Expert) 11 December 2012
general norm is 33to 35% in mumbai . if you are selling room for 19 lakhs then 6lkahs should be ok . landlord wants 40%.
better surrender property to landlord and pocket the 14 lkahs .
sushil v panchal
(Querist) 11 December 2012
Thanks Sir for the reply. But I have read somewhere on this site itself that when we sell the land to landowner itself we do not have to pay him transfer fees. So on this case can't i tell him this and tell him to pay 19lakh if he wants to buy the property.
ajay sethi
(Expert) 11 December 2012
landlord wont pay you market price of your room . you are not the owner but a mere tenant . hence he will deduct his share and pay you balance
V R SHROFF
(Expert) 11 December 2012
u do whatever gives you more nett amt.
Landlord chg 1/3 to 40% of mkt value in cash.
It seems u sold under valued. So he told u , he will pay u 14L.
You must have paid few thousand till date as rent; After giving you 40 years accommodation to ur family, where u were born, he is giving u bonus 14L !!!
Any investment better than this???
So LL Part with ur Profit.
