SAHAKARSUTRA

What is the maximum amount that housing societies can levy, as transfer charges on the sale/purchase of a property? We look at a few verdicts of the Bombay HC, to answer this question The government of Maharashtra recently increased the stamp duty inter alia for sale, gift and transfer, by 1% and there are possibilities of further hikes in stamp duty and registration charges looming. However, an uncertainty that plagues flat owners and purchasers, lies a little closer to home – the levy of transfer charges by a cooperative housing society (society), on the sale and transfer of shares and rights to the flats in a building. Societies insist on payment of a transfer premium, at the time of sale of the shares and rights in a flat by a member, which ranges anywhere from Rs 25,000 to even a percentage of the purchase consideration for sale of the flat. Transfer charges: Maximum permissible amount, by law The flat owner and purchaser, who require the cooperation of the society, for m...

While planning to take a home loan, it is imperative to be aware of the documents that are required for the application. Here’s a look at the basic paperwork that applicants need to prepare for. Home loan application form This is the basic document for the home loan, where the applicant will have to fill all the details. If there are more than one applicants to the home loan, the details of the co-applicants will also need to be furnished. You will have to attach/paste your photograph, as well as that of the joint applicants. You also need to pay the processing fees along with the home loan application. As this fee is generally non-refundable, you should avoid making applications to multiple lenders. Identity and address proofs of the borrower For the purpose of identity, lenders accept documents like PAN card, a valid passport, Aadhaar card, driving licence, identity card issued by any government department, identity card of your employer, or voter identity card. For addre...

While applying for a home loan, you may get engaged as a  co-borrower ,  co-owner ,  co-signer  or  co-applicant.  It is important to understand the significance of each role as it can have severe repercussions on your obligation towards the loan. Here is an explanation of these terms. Applying for a loan as a co-borrower “It refers to any individual, who along with the primary borrower, plays a critical role of accepting responsibility for repaying the debt, in case the primary borrower fails. A co-borrower applies for a loan along with the primary borrower and both bear the legal responsibility of repayment. It isn’t necessary for him to be co-owner of the property and thus, he may not enjoy tax benefits”. When applying for a loan as co-borrower, remember: Co-owner cannot be a minor. Co-borrowers are married couple or immediate relative. Co-borrower must have a consistent source of income On death or payment default by the primary borrower,...

Reserve Bank of India Governor Shaktikanta Das  said “the RBI will not allow any co-operative bank to collapse” and the central bank will “review all the regulations” of cooperative banks and discuss it with the government if required. When asked how the RBI was caught napping as the Punjab and Maharashtra Co-operative Bank scam was going on for around eight years, Das said the RBI acted very swiftly and promptly after it was brought to its notice. “The matter is under investigation. A complaint has been filed with the EOW.” Maintaining that cooperative banks are also sound, he said, “one incident cannot be and should not be used to generalise about the health of all cooperative banks.” “The RBI will review all the regulations of cooperative banks and will discuss with the government if required,” he said.

*मेंटेनन्स चार्जेस , ट्रान्स्फर फी, आणि ना-वापर शुल्क आकारणी: सोसायट्यांना मनमानी करता येणार नाही.* पुण्यातील एका प्रख्यात सोसायटीला समान मेंटेनन्स न आकारल्यामुळे कोर्टाने दणका दिल्याच्या बातम्या दिवसांपूर्वी आपण वाचल्या असतील. प्रथेप्रमाणे लगेचच सोशल मिडीयावर ह्या बाबतीत उलट सुलट चर्चा, मते व्हायरल झाली. एका गोष्टीबद्दल दुमत नसावे की सोसायटी आणि सभासद ह्यांच्यामधील वाद हे बहुतांशी वेळा हे आर्थिक कारणांशीच निगडित असतात आणि यामध्ये मेंटेनन्स, ट्रान्स्फर फी, आणि ना-वापर शुल्क ह्या संबंधातील वाद ह्यांचा पहिल्या तीन क्रमांकामध्ये समावेश होतो. ह्या बद्दलची माहिती कितीही वेळा सांगितली आणि कायदा होऊन अनेक वर्षे लोटली तरी लोकांच्या मनात संभ्रम राहतोच. *देखभाल खर्च (maintenance charges) सर्वाना समान असावा  :* देखभाल खर्च किती आकारावा हे ठरविण्याचा अधिकार सोसायटीला नक्कीच आहे. मात्र तो देखभाल खर्च सर्वांना सामान असावा असं कायदा सांगतो. . निवासी असो वा व्यावसायिक, पहिल्या मजल्यावर राहताय का शेवटच्या मजल्यावर, फ्लॅट छोटा आहे का मोठा , त्यामध्ये भेदभाव करता येत नाही. लोकांनी देखील हे ...

गृहनिर्माण संस्थेच्या पुनर्विकासासंबंधी ३ जानेवारी २००९ साली निर्देश दिले होते, त्यामध्ये शासनाने अलीकडेच सुधारणा करणारे निर्देश जारी केले आहेत. कोणतीही गोष्ट कालप्रवाहासमान ठेवायची असेल तर निश्चितच कोणत्याही कायद्यात, नियमात सुधारणा होणे आवश्यक आहे. मात्र, सुधारित केलेले निर्देश रोगाहून औषध भयंकर असे नाहीत ना? तसेच त्यामध्ये आणखी काय सुधारणा आवश्यक आहेत, याविषयी ऊहापोह करणारा लेख. गृहनिर्माण संस्थेची पुनर्बाधणी हा तर सध्या ऐरणीवर असलेला मुद्दा आहे. याचे कारण म्हणजे सुमारे ७५-८० वर्षांपूर्वी आपल्या समाजाने घर समस्येवर गृहनिर्माण संस्थेचा पर्याय स्वीकारला आणि त्यानुसार अनेक गृहनिर्माण प्रकल्प उभे राहिले. अनेक इमारती उभ्या राहिल्या आणि त्यातील काही मोजक्या अपवाद वगळता बहुतांशी इमारती या मोडकळीस अथवा दुरुस्ती करण्यास पात्र झाल्या आहेत. मात्र हे करताना अनेक समस्या उद्भवू लागल्या. खरे तर आपले घर जर आपणाला दुरुस्त करायचे असेल, तर आपल्यालाच आपले पैसे खर्च करावे लागतात. परंतु मुंबई आणि परिसरात तसेच पुणे-नाशिकसारख्या वेगाने वाढणाऱ्या शहरांमध्ये जागेला असलेली मागणी आणि जागेचा पुरवठा या दोन ग...

July 25, 2019 The Minister of Co-operation, Govt. of Maharashtra, Mantralaya, Mumbai. cc: Mr. Satish Marathe, Director, Reserve Bank of India cc: The DDR, Mumbai & Thane Dist. Dear Sir, In the recent spate of amendments, the state govt. has introduced a separate chapter on cooperative housing society, which is indeed a laudable step and the govt deserves to be congratulated for this initiative. We would like to point out here that in this chapter, it is absolutely necessary to elaborate in detail the responsibilities of the Treasurer of the CHS. It is an important position, but office bearers of CHS's treat it like dirt and assign the position to any tom, dick and harry - thereby lowering the importance of the post and consequently the society suffers due to a non-competent person being in the pot. Here, we are suggesting certain measures to define the job responsibilities of the Treasurer. While examining the Model bye laws 2014 applicable in h...

Information regarding Share Certificate of Housing Societies Share Certificate is one of the most important documents issued to the members of the Co-operative housing society As per Model Bye-laws# 9(a): A Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the Member, the number of shares issued and the value paid there on, shall be issued by the Society to every Member for the shares subscribed by him, within a period of six months of the allotment of the shares. In Maharashtra, societies are governed by Maharashtra Cooperative Societies Act. This Act provides the rules and regulations governing Cooperative Housing Societies also. Total Authorized Share Capital of a Co operative Society is fixed by Registrar of Co op Societies at the time of registering the Society. This share capital is divided into shares of Rs 50/- each. After the amendment to the byelaws in 2014, in cooperative housing societies in Maharashtra, each member ha...