A member of a housing society who has sold his plot or flat on the power of attorney or agreement for sale or by sale deed, shall cease to be a member of that society from the date of the sale of plot or flat:
Provided that the purchaser having registered power of attorney or registered agreement for sale or registered sale deed, as the case may be, in respect of such plot or flat, may apply for membership by paying transfer fee of five hundred rupees and share money and admission fee as per the provisions of the bye-laws of the society and the committee shall grant membership to the applicant within thirty days after the submission of his application. In case of refusal by the committee, the applicant may appeal to the Registrar within thirty days and the decision of the Registrar shall be final:
Provided further that no purchaser shall be entitled for more than one membership in a housing society.
The power of Attorney holder where draw of lots of Flats/ Plots have been conducted by DDA and who wants to seek membership in the concerned society as per section 91 of the Act, have to submit the following documents along with application form :
(a) Affidavit on a stamp paper of Rs. 10/- for discharging all the liabilities to the cooperative society in respect of the flat/plot or common areas which may be outstanding against the allot tee or occupant of the flat or plot within a period of 90 days of raising the demand by the society
(b) Attested copy of duly registered sale deed, agreement to sell and conveyance deed; as the case may be.
(c) Original share certificate issued to the allot tee and in case the original share certificate is not available, the transferee shall execute an indemnity bond to indemnify the society for any losses caused on this account.
(d) Receipt of transfer fee of five hundred rupees for the Common Good Fund of the co-operative housing society;