Residential Flat Registration - CiteHR
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Hi seniors,
I am one of the members of a Housing Cooperative Society (registered under Cooperative Societies Act). I have a loan for the same flat at State Bank of India. The bank people now asking me to deposit the registered ownership deed from the Housing Cooperative. I contacted with the local land registration office and come to know that a huge amount involvement for registration. Is it must being a member of the housing cooperative, I have to registered my flat ? I have the share certificate, allotment letter, possession letter etc.
Seniors please advice. Can anybody help me by providing any case law/ judgement in this regard in any court. Please.
With regards
Pulak Sahoo
Haldia

Dear Mr. Sahoo,
Registration is compulsory. In case the market valuation by Municipal Corporation is below Rs.25 lakhs, registry and stamp duty will be 7.1% of the valuation else the same will be 8.1%.
Regards
Amitava

Hi seniors,
Please realise the fact as under:
We, the eight (8) persons was created a housing cooperative duly registered by West Bengal Housing Cooperative Society Act. in the year 2005. Then we draw a building plan and approved by the local municipality and then we built the said building by labour contract. we are not sold the flat from the Builder. We built it with our own. So it is not purchased flat, being a member of the Housing Cooperative, I have one flat of the same building. At the time of land registration our registration fees/ stamp duty was waived-up as per rule.
Hence it is my request the bank people is now asking to deposit the registered deed of the same flat. Is the bank people is correct?
Pulak Sahoo

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