Hello all, I own an apartment in Regency Heights since 2013. I did not register it because I was hoping that a cooperative society will be formed and I may be able to skip registration charges.

However, still there is no cooperative society formed and flats are still of status "Freehold".

Now my question is, should I get the registry done or wait more?

Is there any disadvantage of not getting registry done?

Thanks
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  • I think registration of the flats is mandatory whether a cooperative society is formed or not. Otherwise how do you become owner of flat.
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  • Hi,

    For cooperative society, there is no registration.
    It has share certificate on owner's name.
    share certificate is transferred on selling/buying.
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  • hmm now I am confused... what happens in my case where I have purchased from the builder, and am waiting for a cooperative society to be formed... should I wait? Go for registration? How much are the registration charges in this area for flats?
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  • If that is the case then why do not everybody after taking possession from Builders forms a cooperative society and save on huge Registration cost. In Punjab Registration cost is 9% for Men, 8% for Joint (Husband /Wife) and 7% for Women apart from some court fee, lawyer charges etc. For a 50 lakh flat it would be around 4.75 Lakhs.
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  • Originally Posted by ROMANK
    If that is the case then why do not everybody after taking possession from Builders forms a cooperative society and save on huge Registration cost. In Punjab Registration cost is 9% for Men, 8% for Joint (Husband /Wife) and 7% for Women apart from some court fee, lawyer charges etc. For a 50 lakh flat it would be around 4.75 Lakhs.


    Registration charges are calculated on purchase price or circle rate...? If I am not wrong, the circle rates for these flats should be around Rs. 1500 per sqft. Can anyone clarify please. Thanks.
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  • Originally Posted by naresh_kumar
    Registration charges are calculated on purchase price or circle rate...? If I am not wrong, the circle rates for these flats should be around Rs. 1500 per sqft. Can anyone clarify please. Thanks.


    Normally, Purchase price or circle rate whichever higher.
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