What if cidco transfer not done?
Sunny
(Querist) 10 February 2022
This query is : Resolved
Kindly clarify my following doubts on CIDCO transfer:
1. What are the repercussions if the CIDCO transfer is not done by the builder or the flat owners in a housing society in Navi Mumbai?
2. Is the builder liable to do the first CIDCO transfer? What if he has not done it?
3. What financial liabilities I may face, if I purchase a 20 years old flat, the CIDCO transfer of which was not done and was sold and resold many times? Do I need to pay the transfer fees for all the previous sales of the said flat?
kavksatyanarayana
(Expert) 10 February 2022
In case of more than one transfer from the original lessee of the CIDCO or the member of the Co-Operative Hsg. Society, the present occupant will be liable to pay, at the prevailing rate, the total amount of transfer charges for each of the transactions that have taken place till he approaches the Corporation to effect such a transfer.
SHIRISH PAWAR, 7738990900
(Expert) 11 February 2022
Hello,
Builder has to transfer the land to housing society by paying transfer charges. For individual flat transfer one has to pay the transfer charges for transfer NOC of CIDCO. If previous owners aviod paying transfer charges then the present owner has to pay transfer charges for all those transfers at current rate for getting transfer NOC of CIDCO.
