What is the premium amount limit prescribed under the circular issued by the department of co-operat

According to the Maharashtra Cooperative Societies Act, 1960, housing societies in Maharashtra are allowed to collect transfer fees from their members when a flat or unit is sold or transferred to a new owner. However, the amount of transfer fee that can be charged is subject to certain regulations.

As per the Maharashtra Cooperative Societies Rules, 1961, the transfer fee that a housing society can charge is limited to 2.5% of the actual consideration paid or payable for the transfer of the property. Additionally, the transfer fee cannot exceed Rs. 25,000 or any other amount prescribed by the government, whichever is lower.

Therefore, if the actual consideration paid or payable for the second sale of the property is less than Rs. 10 lakhs, the transfer fee that can be charged by the housing society cannot exceed Rs. 25,000. However, if the actual consideration paid or payable is more than Rs. 10 lakhs, the transfer fee will be limited to 2.5% of the actual consideration, subject to a maximum of Rs. 25,000.

It's important to note that these rules apply to transfers of property that take place after the formation of the housing society. In the case of a second sale that occurred before the formation of the society, it's advisable to consult a legal expert or the Registrar of Cooperative Societies to determine the applicable rules and regulations regarding transfer fees.

Can you please attach the govt order for transfer of plot in Tenant Co- Ownership Housing Society Ours is 999 yrs lease plot society

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Which Government order? What Government order?  The Rs.25000/- leviable from the transferor of the flat is not a transfer fee. It is called transfer premium. It can be Rs.25000/- or less. It is stated in Model Byelaws. Transfer Premium cannot be charged for transfer between close relatives. Rs.25000/- was specified some 35 to 40 years ago when the costs of flats were very low. Since then the amount has not been revised. Many societies are charging lakhs of rupees. It is illegal. But the parties, particularly the transferries are paying for hassle transfer.

I am talking about plot society and not flat society

You can enuire about the applicable premium fee for plot transfer from the local sub registrar office itself.