Dear Sir, I am about to purchase a resale flat in Pune. She is the first owner. She purchased the flat from builder and got possession in August 2013 and staying there since then. Building CC and OC was received in April 2014. The housing society was registered in June 2014 and the share certificates have come just this month i.e. Feb 2015.
The society is ready to give NOC for this resale by accepting transfer charges. The society has given few such NOCs in the recent past and the transactions have successfully happened. But I read somewhere that as per Maharashtra Cooperative act 29(2)(a), a CHS member cannot transfer his share/interest in the property before one year. This rule anyway looks little illogical because how can the law prohibit a legal owner from selling her property if she is in need of money?
Anyway my question is - Will this rule be applicable in my case? Because she is the first owner and she has held the flat for almost 2 years and this is going to be first 'transfer' of this flat.
So can she legally sell her flat? Will I get the share certificate transferred to my name immediately? Or will I have to wait for one year?
Please help asap.
Related to housing society bye-laws
Dear Rajiv,
Yes, the shares can be transferred immediately.
Thank you so much for your prompt reply. So just to confirm -
1) This rule (i.e. society member cannot transfer interest/share in the flat before one year of his/her society membership) will not be applicable in my case, right?
2) She is a society member since June 2014 because the society itself was registered in June 2014. But she is the first owner and is holding the flat for 2 years (even before society was formed). So can she legally sell her flat now?
3) Also can you pls give any example where this rule will be applicable?
The rule for one year holding is in older society not new ones. It's mainly in sync with the income tax act on short term capital gains.
Dear Sir
I am from Mansadevi Complex Sector 6 Panchkula Haryana.
The Manav Hut co-oprative Society.(Mansa Devi Complex Sector 6 Panchkula).
I had purchased a co-oprative society flat in the year of 2014 from the buyer having share certificate.Firstly he made a convince deed n later we did a sale deed in 2014. I stayed there from the begining from 2014 after registery. I applied for share certificate last month April 2017 . Now i have recieved my share certificate. I am selling my flat now please advise can i sale my flat anytime or is there any condition ? Also i want to know that can i ask NOC n Permission to sell certificate from my society ? Kindly advise ASAP .
Regards
Rakesh Dhawan
Sir,
I want to sell my flat in Mumbai to member of the society who is a doctor by profession.Now SoC secretary is not willing to give NOC to this deal saying he may use this as commercial purpose. Pl guide the Bye low provision
Hello,
I Purcahsed a resale flat in pune year 2016, and i am the second owner of the property however, the property was constructed in year 2008 and society registerd in year 2012.
and I paid of lumpsum amount for society NOC, but till date i have not received a share certificate, when i requested to my chairman, he said that we do not have any share certificate.
Please give me a suggestion, what should i do in this situation, because when i got loan form bank and the Society letter was mentioned that, share certificate will be issued in the name current owner.
But no reply from my Chairman, pleae advice me for the legal procedures.
Thanks in Advance
SIR I YOGESH PATEL FROM NAVI MUMBAI .. WANTED TO KNOW THAT I HAD PURCHASE A FLAT IN KOPERKHAIRNE AND I WANTED TO ADD MY NAME IN NAMES BOARD OF SOCIETY BUT SOME PERSONS TOLD ME THAT THE SOCIETY WILL NOT GIVE PERMISION TO WRITE MY NAME ON BOARD BECAUSE I M NOT MEMBER OF SOCIETY . SOCIETY IS NOT CONVENVCE SOCIETY ITS ON PROCESSS OF DEEM CONVENCE THEY R GIVING ME THE THIS REASON AND SUCH MEMBERS WHO R NOT MEMBERS THEY ALSO HAD ADDED THERE NAME ON BOARD ...
NOW WHAT TO DO... ANY ONE CAN ANSWER ME
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