Unearned profit for transfer of flat: Society residents protest, to hold mahapanchayat

Chandigarh, September 18

Residents of group housing societies are up in arms against the decision of the UT Administration to charge unearned profit for transfer of flats.

“At a time when the entire city was confined in homes due to the coronavirus, the UT Administration secretly added a new rule to the transfer policy for group housing societies. The Administration started collecting lakhs of rupees in the name of unearned profit for transfer on flats of all societies,” said Aam Aadmi Party leader Sandeep Bhardwaj.

Talking to mediapersons along with office-bearers of several societies, Bhardwaj said there are 108 group housing societies in Chandigarh from Sector 48 to 51. About 13,000 families live there. Residents of these societies have lost their sleep due to the new transfer policy implemented during the Covid pandemic. Now the situation is that if any person gets the flat transferred, then he has to pay Rs8 lakh to Rs13 lakh in the name of unearned profit. Apart from this, the cost of registry and 18% GST are separate.

Officials of the Chandigarh Group Housing Society Welfare Council say when the Chandigarh Housing Board had allotted land to the societies, it was given at a cheaper rate. Now after several years, when the land prices have gone up, the Administration is charging one-thirds of the unearned profit on the difference between the new and old rates.

Officials say, “The Administration does not have any right on this. All societies themselves got the construction of flats done. Apart from this, we are also getting the work related to the development inside the societies done by ourselves. Then, why the government is asking for profit now?”

Sale of flats has been affected due to unearned profit. Bhardwaj said: “We want this loot to be stopped at the earliest or else people will take to the streets against the Administration. We will also oppose the decision and decide further course of action at a mahapanchayat to be organised on September 26”. — TNS