UP RERA Caps Transfer Fee for Inherited Properties
For those who have inherited an unregistered property from a deceased relative, transferring it into their name can be a complex and often expensive process. However, a recent decision by Uttar Pradesh Real Estate Regulation Authority (UP RERA) has brought relief to those facing hefty transfer fees.
Key Changes in UP RERA's Decision
- Flat Transfer Fee for Legal Heirs: The UP RERA has capped the flat transfer fee for legal heirs at Rs. 1,000, eliminating excessive charges levied by developers.
- Processing Fee Limit: As per the 10th Amendment to Uttar Pradesh Real Estate Regulatory Authority (General) Regulations, 2019, promoters can no longer charge a processing fee exceeding Rs. 1,000 if the successor-in-interest is a family member of the allottee.
- Transfer Fee for Non-Family Members: For those outside the bloodline, the transfer fee has been capped at Rs. 25,000.
Documents Required for Transfer
To initiate the transfer process, legal heirs must submit the following documents:
- Death Certificate: Proof of the original allottee's demise, essential for initiating the transfer process.
- Succession Certificate: Issued by the sub-divisional magistrate or district magistrate, this certificate establishes your legal right as a successor to the deceased allottee's assets.
- No Objection Certificate: From all surviving heirs of the original allottee, ensuring that all other legal heirs have no objection to the property being transferred to you.
Impact of UP RERA's Decision
According to UP RERA Chairman Sanjay Bhoosreddy, the amendment addresses several complaints against builders charging exorbitant fees for transfer of unregistered property. The capped fee structure brings much-needed clarity and uniformity to a process prone to inconsistent and inflated charges.
This regulatory change offers a more predictable and affordable path forward for families navigating the emotional and procedural burden of inheriting property after a relative's death. It also reinforces accountability among developers, who will no longer be able to levy fees at their discretion or link them to the size of the property.