Transfer fee/premium of co-operative housing society
Nilesh
(Querist) 22 March 2018
This query is : Resolved
Dear Experts,
We are society of total 40 flats in mumbai.
developer/builder has developed the plot of land owners. Now land owners are selling flats (unsold) from their quota.
But neither developer nor land owner are ready to pay the transfer premium. they are saying that as its not resale, they dont have to pay the transfer fee. but as per my knowledge developer automatically becomes member after formation of society. and as a transferer he has to pay the transfer premium.
What is the truth?
Kindly advise.
Hemant Agarwal
(Expert) 23 March 2018
1. Nothing is Automatic in a CHS.
2. Developer does NOT automatically become a member.
3. Unsold Flats in custody of Developer can be sold and no Transfer Premium is payble.
4. However IF the CHS has issued Membership Share Certificate to Developers Flats, ONLY THEN the CHS can recover the Share Transfer Premium, ELSE NO.
Keep Smiling .... Hemant Agarwal
Kumar Doab
(Expert) 23 March 2018
You can benefit from the post of Mr. Hemant Agarwal…
Nilesh
(Querist) 24 March 2018
Thank you so much experts. specially Mr.Hemant Agarwal sir.
transfer fee and transfer premium are same. isnt it? pardon me for this amateur question.
Nilesh
(Querist) 24 March 2018
I have one doubt about Mr.Agarwals point no. 4.
If CHS issues membership certificate then isnt it all work done? How can CHS can demand transfer fee after that?
