PANAJI: Co-operative Societies will now have to pay Rs 10,000 to the government from the premium amount collected from members during the transfer of shares and occupancy rights of a plot of land, housing unit or commercial unit.
The Goa government has notified the draft Goa Co-operative Societies (Fifth Amendment) Rules, 2024 to this effect.
The member seeking transfer will have to pay a fixed transfer fee of Rs 2000 and an amount of premium at the rate of up to 2% of the market value of the property to the society.
From the premium amount, the society will have to pay Rs 10,000 to the government treasury.
If the society fails to deposit the amount in the government treasury, such amount shall be recovered by the Registrar from the society, along with interest at the rate of four per cent as arrears of land revenue, warns the draft rules.
The draft rules will be taken into consideration by the Government after the expiry of 15 days from the date of publication of this Notification in the Official Gazette.
The government has sought objections and suggestions on the draft rules within the next 15 days