Building asking Transfer Fee for a new flat, no society formed
23-Apr-2023 (In Property Law)
Hi!
A property I invested about 6 years ago received OC now. I have made 100% payment towards it. The property was to be handed over to me 3 years ago as per the agreement but was delayed. The society for the same is not formed as yet.
I want to sell the property now but the builder says I will have to pay Rs. 3,50,000/- as Transfer Fee. Am I legally bound to pay this fee? Is there any law that can protect me from this builder arm twisting? Finally, can the builder charge any amount of Transfer Fee he wishes or is there a limit set for the same?
Request your advice.
This is my response to you:
1. The builder cannot ask for transfer fee;
2. It is better if you wait for the society to be formed and then sell it;
3. Obtain possession of it and then you can sell it;
4. The transfer charged is exorbitant;
5. Consult a local lawyer and take steps.
1. The builder cannot ask for transfer fee;
2. It is better if you wait for the society to be formed and then sell it;
3. Obtain possession of it and then you can sell it;
4. The transfer charged is exorbitant;
5. Consult a local lawyer and take steps.
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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