I have just purchased a flat in Malad west Mumbai Maharashtra. The flat which I have purchased from the person has total 3 flats in same building i have purchased the flat in the ground floor of the building the other flats which he holds is on the second floor of the same building .
I had paid him the total amount by demand draft and the registration of the agreement has been done .
After all this procedure I asked him to give me the chain of documents of the flat he holds
he provided me all the documents except the share certificate
so i asked him to give me the share certificate he started making excuses for two three days then finally he disclosed me that he is holding a single share certificate for all the three flats which he owns in the building so he cant give it to me
so i dont know now how will i be able to get transfer of share certificate in my name and now how will i be able to get the legal rights in the society and how will the society give me my share certificate
sir i will be very grateful to you if you can enlighten me for the futher procedures so that i can be able to get my shares in the society
it will be very kind of you if you can reply this mail as earliest as possible
hoping for your kind reply
I C Naik
A member must hold minimum number of shares in the Capital of the CHS, as specified in the Bye Laws. A member is allowed to hold interest in the property which could be more than one flat. When such member proposes to transfer part of his holdings in the CHS Property i.e. Flat(s), the proposed transferee should buy minimum shares directly from the Society, before a flat is transferred in his name.Delink Number of Shares and number of flats. It is not that 5 shares must be bought per flat.
