What needs to be done for CIDCO transfer of flat in the name of my daughter. Gift deed has already been registered?


Any Transfer of property in Navi Mumbai attracts levy of applicable charges to be paid to CIDCO depending upon the carpet area of your apartment. The transfer charges increase by 10% every year and only upon payment of transfer charges, the transfer is accepted and held legal by CIDCO. An application in the prescribed format with Transfer charges varying as per carpet area of Apt. are required to be submitted to CIDCO for the Transfer. If you require any legal assistance regarding name Transfer.

If the buyer before you has paid the transfer charges, then you dont have to worry. Just pay the transfer charges for your transaction and youÕre ok. But if the seller has not paid his transfer charge (when he purchased the flat) then you are liable to pay it when you purchase the flat from him. Or else, you can ask him to shell out the money for his transfer.
So make sure that you purchase a flat only after checking that the previous owner has paid the CIDCO transfer charges. If you buy from the builder, you donÕt have to pay transfer charges as it will be applicable after the formation of the society and at the time of conveyance of the land and building in favor of the society. the Society must have something called Conveyance and must feature in CIDCO records. More than 50% of Societies do not have ÔConveyanceÕ in their favor in CIDCO records.

Reference: The City and Industrial Development Corporation of Maharashtra (CIDCO) is an Indian city planning agency and richest government authority in India which is formed and controlled by the Government of Maharashtra.



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