The MHADA transfer fees of ownership in India vary based on the type of flat and its location. For instance, in Mumbai, the transfer fee for a standard MHADA flat is approximately Rs. 35,000, which is paid to MHADA after the property is registered in the buyer's name.
What are the MHADA Transfer Charges?
For specific categories such as mill worker flats, the transfer fee is significantly lower; for example, it's Rs. 7,500. These fees are typically paid via demand draft or pay order from a nationalised bank. Once the payment is made, the buyer must submit the receipt along with other required documents, including the registered sale deed, to MHADA's concerned office.
Upon verification, MHADA issues a transfer certificate, completing the ownership transfer process.
It's important to note that these charges are separate from other costs associated with property transactions, such as stamp duty and registration fees, which are additional expenses borne by the buyer. Therefore, prospective buyers should budget for both the statutory charges and the MHADA-specific transfer fees to ensure a smooth and legally compliant property transfer.
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If you own an MHADA flat, then you can sell it only after 5 years from the date of purchase. Let me tell you about the MHADA ownership transfer procedure:
You will be required to obtain a copy of the letter containing the details of the owner’s interest in transferring the property.
You will need to obtain the original allotment letter from the MHADA in the owner’s name.
You will be required to obtain a no-dues certificate from the society.
You are required to make the sale agreement in the buyer’s name.
You will have to pay the stamp duty and registration charges.
Then, just inform the Maharashtra Housing and Development Authority (MHADA) to issue the transfer certificate after the property is registered in your name. Along with a copy of registry papers, you’ll need to submit a transfer fee of Rs. 35000. This process usually takes around six months to complete.
I hope now you know about the MHADA ownership transfer procedure. If you have any other doubts related to MHADA property charges, then you can ask NoBroker’s legal team to get your doubts clear.
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2021-08-29T18:54:50+00:00 2024-03-27T15:37:15+00:00Comment
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