Charging of ifms on resale of flat
GR Gupta
(Querist) 03 March 2016
This query is : Resolved
I had purchased a flat in resale in Gurgaon. The first owner of this flat has paid IBMS charges to the builder. Now on my purchase of this flat in resale, the builder is changing this IBMS to IFMS for mutation. In the Apartment Buyer's agreement between builder and buyer with first allotee is for IBMS. But on resale of the same flat, the builder wants to change this IBMS to IFMS. Kindly advise whether the builder can change IBMS to IFMS on resale of the same flat.
P. Venu
(Expert) 04 March 2016
What are IBMS and IFMS?
GR Gupta
(Querist) 04 March 2016
Sir, IBMS is Interest Bearing Maintenance Security Deposit and IFMS is Interest Free Maintenance Security Deposit.
Rajendra K Goyal
(Expert) 04 March 2016
Go through the terms of allotment and transfer, if any violation, file consumer complaint.