Legal Question in Real Estate Law in India

A society was formed under the West Bengal Societies Registration Act which had purchased a land at Kolkata and constructed 8 flats which were allotted to eight persons who had paid the price of their respective flats and they were inducted as members of the Society.The land of the flat was registered in the name of the Society , but individual flats were not registered in the names of the respective members/owners. Kolkata Municipal Corporation has mutated individual flats jointly in the name of the Society and the respective owner. The Municipal tax are being paid by the individual member/owner for their respective flats. Now the Society does not exist and many members have expired. Please let me know as to how a member/owner, who is alive, can sell his flat.


Asked on 7/17/13, 2:09 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

17.07.2013

Dear Sir / Madam,

First and foremost, since the plot of land is in the name of the Society and belongs to it, the existing present members residing in the building constructed on the plot of land and who hold a Share Certificate issued by the Society in their name, will have to revive the Society as a body corporate with the Registrar of Co-operative Societies in Kolkata. The sale of flats has to be recorded by the Society in the Transfer Register with detail of the outgoing and incoming member along with the prevailing transfer fees of Rs. 25,000/- to be shared 50-50 and paid by the seller (outgoing member) and the purchaser (incoming member) to the Society along with the Membership Form.

Regards,

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Answered on 7/17/13, 2:56 am


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