Chandigarh administration Will Begin Transfer Of Leasehold Flats To Allottees
In a major relief to around 10,000 families living in 80 cooperative housing societies in Chandigarh, the UT administration will begin the transfer of leasehold flats to the allottees from October 20.
Chandigarh administrator approved the transfer policy two weeks back. So far, the flats were allotted on leasehold for 99 years. Now, owners can get the flat registered in their name, allowing them to further sell the property at market rates.
Additional secretary, estate, said, we are in the process of finalising the scheme and from October 20, allottees can get their flats transferred in their name. It was a long-pending demand of allottees.
There are 115 group housing societies comprising over 15,000 flats in Sectors 48, 49, 50 and 51. Since these societies started coming up around two decades ago, flats of only 35 societies were freehold while the remaining were on lease.
Transfer of both leasehold and freehold property was allowed between 2006 and 2012. However, after finding several irregularities, the registrar, co-operative societies, had imposed an embargo on the transfer of leasehold flats in 2012, leaving allottees in a lurch.
How to register
To get the flats registered in the name of the owner, societies were first required to get the land transferred in their name by executing the deed of conveyance or lease deed after paying the prescribed stamp duty on actual amount paid to the Chandigarh Housing Board (CHB) or UT administration. None of the 80 societies has done this yet.
Once accomplished, the transfer of individual flats in each society will be allowed only through the sale deed or the deed of transfer of leasehold rights, to be executed and registered on the payment of the prescribed stamp duty on the value of dwelling unit as determined by the collector.
The purchaser or his or her spouse or dependent children should not possess or own either on freehold, leasehold or hire-purchase basis another such property in Chandigarh, Manimajra, Panchkula and Mohali.
The purchaser will also deposit the transfer fee depending on the size of the flat by demand draft in favour of the society in lieu of the unearned increase.
Adviser, Group Housing Cooperative Societies Welfare Council, Chandigarh, said, the transfer fee is very high. We held two meetings with the officers concerned and they had agreed to a simplified procedure.
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