Approximately 3,000 housing societies on Collectors Land in Mumbai will be affected by the hike in transfer fee on the sale of their apartments. Representatives from Maharashtra Societies Welfare Association (MSWA), which represents the housing societies, said that such hikes were unjustified. In case of a special catefgory (judges, bureaucrats and others), the charge will be Rs 2,000 per square feet. Residents who bought these apartments without paying the transfer fee will now have to pay a lot more to regularise their sale. This adds to the project cost and ultimately the selling price,” said Bhavesh Sanghrajka, managing director, Shraddha Lifescapes.

Source: Hindustan Times July 14, 2017 18:56 UTC