No Transfer Fees in Societies in Delhi

By Delhi and NCR Bureau

Societies cannot charge transfer fees in transfer transactions between old and new members.

Office of The Registrar Cooperative Societies
Govt. of N.C.T. of Delhi
Old Courts Building, Parliament Street:
New Delhi

No. r 47/lQa/Coop./R. C.SIPoIxy/1482- 1502 Dated 14/1 /2019

Directive Under Rules 77 of Delhi Cooperative Societies Rules, 1973.

It has been brought to the notice of the undersigned during public hearing flours that the Managing Committee of Cooperative Group Housing/House Building Societies are charg­ing “Entry Fee” before handing over the possession of flat/plot or for issuing No Objection Certificate (NOC) required for conversion of leasehold to freehold.

Therefore, I, R.K. Srivastava, Registrar Cooperative Societies make it clear that none of the provisions of Delhi Co-operative Societies Act, 1972 and Delhi Co-operative Societies Rules, 1973 empower for charging any amount in account of Entry Fee” in any form whatsoever and accordingly, I, in exercise of the powers conferred upon me under Rule 77 of Delhi Co-operative Societies Rules, 1973 do hereby direct all the Cooperative Group Housing/ House Building Societies not to charge any “Entry Fee” from the persons eligible for taking the possession of flat/plot in the respective Cooperative Society. Violation of this Directive will be viewed seriously and the President/Secretary of the concerned Society would be held responsible jointly and individually. Action will be taken against the Society under the provisions of the Act and Rules for any such violation.

This Directive will come into force with immediate effect.

(R.K. Shrivastava)
Registrar Cooperative Societies

Copy to:

1. President/Secretaries of all the Group Housing/House Building Societies through concerned Assistant Registrar.

2. Joint Registrars/Deputy Registrars/Assistant Registrars.

3. Sehkari Magazine for publication.

(BK. Shrivastava)
Registrar Cooperative Societies