Short Answer

Yes, there is a statutory limit on transfer fees charged by the society when a member sells a flat.

Detailed Explanation

Rule 134 of the Gujarat Cooperative Societies Rules, 1965 governs the transfer fees charged by cooperative societies. This rule states that a society can charge a transfer fee not exceeding 2% of the consideration amount involved in the transfer of a flat. This means that when a member sells a flat, the society can levy a transfer fee up to 2% of the sale price.

In practice, this rule ensures that societies do not impose exorbitant transfer fees on members during flat transactions. By capping the transfer fee at 2%, it provides a fair and reasonable limit on the charges that can be imposed by the society.

Real-world Scenarios

• Scenario 1: Mr. Patel sells his flat for Rs. 50 lakhs. As per Rule 134, the society can charge a transfer fee of up to Rs. 1 lakh (2% of Rs. 50 lakhs) for this transaction.

• Scenario 2: Ms. Desai transfers her flat with a sale price of Rs. 40 lakhs. The society can levy a transfer fee of up to Rs. 80,000 (2% of Rs. 40 lakhs) in this case.

Step-by-step process:

• Determine the sale price of the flat.

• Calculate 2% of the sale price to ascertain the maximum transfer fee allowed.

• The society can charge the transfer fee within this statutory limit.

Reference

• Rule 134 of the Gujarat Cooperative Societies Rules, 1965

Official PDF