Admn mulls changes in GPA transfer policy

Transfer of shares or membership in favour of GPA holder or any other person by the original allottee member will be allowed without the pre-condition of clearance of his dues with the society or getting a ‘No Dues Certificate’ from the society. The society will not be required to obtain a ‘No Dues Certificate’ from the Chandigarh Housing Board,subject to the condition that the GPA holder or transferee shall be bound to clear his dues with the society that may be outstanding or may arise by subsequent audits or re-audit and corrections of previous time periods. The GPA holders will have to give an affidavit to the society for the same.

Transfer in favour of will-holder registered with the Sub-Registrar will be allowed after publishing an advertisement in the leading newspapers asking for objections (if any) by giving a time period of one month for the same. A probate (confirmation) from the competent court of law in case of unregistered wills will be required from the individual,so that after the transfer of share or membership,no dispute may arise.

In cases where the GPA is in the name of one person and Special Power of Attorney (SPA) in the name of another for agreement to sell,transfer,gift,mortgage,and the like,the management will take an undertaking in the shape of affidavit from all persons to specify in whose name the transfer should take place.

With the sale taking place through GPA,the nominee of the original allottee member will become redundant on the transfer of share.

In the case of sub-GPA,double transfer fee will be charged from the sub-GPA holder who holds a valid GPA from the original member,and the member who has further executed sub-GPA in his favour,considering that the transfer will be effected in the name of GPA holder and thereafter,in the name of sub-GPA.

“We have tried to simplify the procedure for the benefit of hundreds of group housing society members in the city. We had received several complaints and representations from the hassled members,considering which we have proposed certain changes. We hope to receive the Finance department’s concurrence soon,after which the changes will be notified,” said a senior UT Administration official.