Key Provisions of the New Regulations
- Cap on Transfer Fees: Under the newly amended Cooperative Act of 2024, societies cannot charge more than 0.5% of the property’s total consideration amount, with an upper limit of ₹1 lakh. Societies may set lower fees through their bye-laws but cannot exceed this cap.
- No Fee for Legal Heirs: If a property is transferred to legal heirs without any monetary consideration, no transfer fee is applicable.
- Prohibition of Additional Charges: Societies are prohibited from collecting extra charges under misleading names such as development fees, donations, or other hidden levies at the time of property transfer.
Legislative Background
These provisions were introduced through the Gujarat Co-operative Societies (Amendment) Bill, 2024. The amendment inserted a new section, 159A, into the Gujarat Co-operative Societies Act, 1961, empowering the government to prescribe rules for fixation of transfer fees collected by cooperative housing societies.
Enforcement and Compliance
The new rules are designed to bring greater transparency and fairness to the functioning of cooperative housing societies, benefiting numerous residents across Gujarat. If a society continues to impose fees beyond the prescribed limits or under unauthorized categories, members can file a complaint with the Registrar of Cooperative Societies under Section 96 of the Gujarat Cooperative Societies Act, 1961.
For further assistance or to access the official government resolution (GR) and circulars, you may visit the official website of the Gujarat Cooperative Societies Registrar or consult with a legal expert specializing in cooperative housing society laws.