PANAJI
The State government has brought in draft rules, wherein the Co-operative Societies will have to pay Rs 10,000 to the State from the premium amount collected from members during transfer of shares and occupancy rights of a plot of land, housing unit or commercial unit.
The Department of Co-operation has notified the draft Goa Co-operative Societies (Fifth Amendment) Rules, 2024 and the same is kept open for public for a period of 15 days.
As per the draft rules, the member seeking transfer will have to pay a fixed transfer fee of Rs 2000 and an amount of premium at the rate up to 2 per cent of the market value of the property to the society.
Further, from the premium amount the society will have to pay Rs 10,000 to the government treasury. “If the society fails to deposit the amount in the government treasury, such amount shall be recovered by the Registrar from the society, along with interest at the rate of four per cent as arrears of land revenue,” stated the draft rules.
“Any transfer of share or interest of the member approved by the society in contravention of these Rules shall be ab-initio null and void,” it said further.
