In a good move for residents living in cooperative societies, the Maharashtra government has recently issued a Government Resolution (GR) in which they have simplified the rules for the sale or transfer of flats in societies built on government-allotted lands. The new GR is issued by the Revenue and Forest Department, Maharashtra.
According to it, a three percent or five per cent transfer fee shall be charged from now onwards, based on the Ready Reckoner Rates, for transfer of flats without prior permission. In case of transfer of flats to family members, or transfer by gift deeds or an executed will, the transfer fee shall not be applicable.
As per the Government Resolution, “In case of redevelopment of buildings built on government-allotted lands, where extra new flats are constructed, the eligibility rules for existing members at the time of allotment of land won’t apply to the new members (who purchase flats in the redeveloped society).”
However, the statement further said that after buying flats in a redeveloped building, it will be mandatory for the new members to seek prior permission from the district collector and pay transfer fees or mortgage fees, upon transfer or mortgage of such flats in future.
Further, in case a transfer took place without the permission of the district collector, the department will charge a transfer fee at the rate of three percent. Later, the collector can regularise such transaction. On the other hand, if the transfer took place in contravention of the rules like before the society gets the completion certificate, a five percent transfer fee will be recovered, for regularisation.