The Goa Co-operative Societies (Fourth Amendment) Rules 2023 which have been published per a gazette notification are now in force in Goa.
Extensive changes have been made to the Society Rules 2003 but a few clauses relating to fees and premium for transfer of shares impose considerable financial burden on both the prospective unit holders and the society.
For instance a fixed transfer fee of Rs 2000 (earlier Rs 1000) is payable to the society by a prospective member seeking conveyance of share and occupancy rights.
Additionally a premium amounting to 4% (earlier 1%) of the market value of the plot or dwelling unit has to be credited to the Society.
Another 4% of the property value as transfer charges has to be paid by members directly into Government Treasury by e-challan.
In the event of a Society affecting any such transfer of title without depositing of the transfer fees in the Treasury, the same shall be recovered from the Society.
This arbitrary and exorbitant increase in fees is Shylock-ian in nature. It is extremely unfair to both the Co- operative Housing Society and potential members.
