A member in our society is proposing to sell his flat for a grossly undervalued price, officially. My question is
1) can the society refuse the proposed transfer on the grounds of undervaluation
2) can the society insist that the flat be offered to an existing member for the same price or slightly more?.
3) as the seller is an NRI & could be in trouble with FERA if he is trying to take a substantial amount of un disclosed sale amount could the society be held liable for transferring said flat in future?
anonymous
