Published On: Mon, Aug 27th, 2012

Society Transfer fees is just Rs1000/- and 1% in Goa

By Accommodation Times Bureau
Sec 134. Fees and premium for transfer of shares or interest of the member.— (1) A
member whose application for transfer of shares and occupancy right in the property of
the society is accepted by the society shall pay transfer fees not exceeding Rs. 1,000/- as
may be provided in the bye-laws of the society and an amount of premium not exceeding
1 % of the value of the plot or dwelling unit as shown in the transfer document:
Provided that no such premium shall be paid in the matter of a transfer to a member of
a family as defined in ‘Explanation’ to section 6 of the Act.
(2) In case of transfer of share and interest or occupancy right from individual member
to joint member, such transfer fee and premium shall also be payable.
(3) The amount of transfer fees shall be credited by the Society to its reserve fund and
the amount of premium shall be credited to a fund called “common amenities fund” to be
used for common amenities in the society.

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