Exemption from Corpus fund on resale

I am a member of a housing society and I am buying another flat in the same society. Seller has paid the corpus fund; is it legal for the society to ask me to pay again?(Rs.1lac) Since I am already a member, can I be exempted form paying the corpus fund?

Answers (3)

171 votes


You are purchasing a flat from an existing owner right, then you don't have to pay corpus fund for the said flat as the owner had already paid corpus for that said flat. Usually Corpus fund will be collected once for a flat if the bye-law of the association or society says otherwise.

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131 votes

Normally Corpus fund is a fund handed over by the builder to the society. So in that case seller cannot demand or to be taken from the owner of a flat who is likely to transfer his flat to any third party in future.

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237 votes

Go through the agreement if any such clause is incorporated. If not, question the legality as the rights getting transferred to you once alienation is done.

You need not pay if it has been already paid.

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