The document discusses procedures for transferring flats in cooperative housing societies in India. It states that a housing society is an organization that provides plots, houses, or flats to its members, and may also provide common amenities and services. To transfer a flat, certain formalities must be followed. A society can be a cooperative society registered under the relevant act.

1. Real Estate Buyer’s Encyclopedia

2. Procedure for Transfer of Flats in Co-operative
Societies
Housing Society means a society the object of which is to
provide its members with open plots for housing, dwelling
houses or flats or if open Plots, the dwelling houses or flats
are already acquired, to provide its members common
amenities and services.
In order to transfer a flat in a cooperative society,
some formalities need to be complied with. A housing society
is a society with the objective of providing its members with
plots, houses or flats. It can also be existing to provide its
members with amenities Trainings and by Vidya services. Bhagwat
A society can be a co-operative
society that is registered or deemed to be
registered under the Society Registration Act.

3. Home Buying: Things to do from Start to Finish :
• Every home buying
experience is different.
Each has its own twists
and turns. But there are
general guidelines as to
how the home buying
process works. Keep
these in mind before you
buy a home.
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4. • Identifying your Needs :
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• Budget :
• 1.Own funds.
• 2.Funds from your employer.
• 3.Provident Fund Loan.
• 4.Loan from Banks/HFCs.
• 5.Loan against assets

5. Tips Before Purchasing a Property :
• Tips & how-to guides to
give insight into the
property buying process.
Covering all angles of the
property cycle, from buying
your dream family home to
investment property, to
first home buyers and
downsizers.
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6. Tips Before Selling Your Property :
Insights, tips & how-to guides on selling property and
preparing your home or investment property for sale and
working to maximize your sale price.
1. Choose the right estate agent :
Ask at least three agents to assess your home and
show you some comparable properties that they have sold
recently. Speak to some of their past clients, or do your own
mystery shopping and view the properties they sell.
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7. 2. Insist on a top-notch brochure :
Find the best-quality brochure for a house in your
price range and area, then show it to your agent. Insist on
something just as good. The sales details should include a
floor plan, a description of each room and a critique of the
neighborhood. These brochures should be ready before the
first person views your property.
3 .Make your home easy to see
“Nothing is more frustrating than an agent saying 'a
viewing doesn’t suit the vendor’,” says Nicola Oddy of Stacks
Property Search, a buying agency. “If your agent can’t
supervise the viewing, do it yourself. Be flexible about timing
even if it’s inconvenient.
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8. • 5 Great photography :
• High-quality color shots of your home and garden are a must.
Agency Hamptons International has gone one step further by
using a remote-control helicopter to take aerial views of
properties.
• 8 Just organize yourself :
• A third of sales fall through, so don’t give your buyer more
time than necessary. Instruct a conveyancing solicitor to act
for you, so a deal moves as quickly as possible. And arrange
your new mortgage if you need one for your next purchase.
“Delays allow buyers to get cold feet or spot more properties.
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Don’t give them an excuse to back out,” says Jason Wills, who
runs his own London buying agency.

9. Tips for Renting out your Property :
1. Understand The Responsibility Involved :
First, you must determine whether being a
landlord is an obligation you can even handle. The benefits of
renting are numerous, such as the ability to deter the
vandalism that often plagues an empty home, the ease of tax
breaks and the ability to generate income that covers the
bills and possibly even creates a profit.
2. Prepare Your Home :
In a down market, you won't be able to get away
with renting out the home as is. Tenants are more attentive
and choosy in a down market because of the increased
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availability rental homes, and their expectations are much
higher.

10. Trainings by Vidya Bhagwat
3. Hire Professionals :
Renting out your home may seem like a simple task, but
it's important to talk with attorneys and other professionals to
make sure you are abiding by tax laws and local property rules
as a result of the new status.
4. Set A Competitive Price:
Set the cost of the rent by learning what other rental
properties are going for in your neighborhood and
community. Remember, potential tenants will be scouting
around for deals, so set the rent at a competitive price and
make sure you highlight all the most valuable aspects of your
home.

12. Real Estate Glossary :
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• A :
• ABANDONMENT - The voluntary surrender or relinquishment
of possession of real property with the intention of
terminating one's possession or interest, but without vesting
this interest in any other person.
• ABATEMENT - A reduction or decrease in amount, degree,
intensity or worth.
• ABSORPTION RATE - An estimate of the rate at which a
particular classification of space - such as new office space,
new housing, new condominium units and the like - will be
sold or occupied each year.

13. Trainings by Vidya Bhagwat
• B :
• BALLOON PAYMENT - The final payment of a note or
obligation, which is substantially larger than the previous
installment payments, and which repays the debt in full; the
remaining balance which is due at the maturity of a note or
obligation.
• BARGAIN AND SALE DEED - A deed which recites a
consideration and conveys all of the grantor's interest in the
property to the grantee.
• BASE LINE AND MERIDIAN - An imaginary set of lines used by
surveyors to locate and describe land under the Rectangular
Survey Method of property description used in most mainland
states.

14. Trainings by Vidya Bhagwat
• C :
• CANTILEVER - A projecting beam or overhanging portion
supported at one end only.
• CAPITAL GAIN - The taxable profit derived from the sale of a
capital asset.
• CAPITAL IMPROVEMENT - Any structure which is erected as a
permanent improvement to real property; any improvement
which is made to extend the useful life of a property, or to add
to the value of the property.
• CAPITALIZATION - A mathematical process for converting net
income into an indication of value, commonly used in the
income approach to appraisal.

15. • D :
• DEALER - An IRS designation for a person who regularly buys
and sells real property.
• DEBT SERVICE - The amount of money needed to meet the
periodic payments of principal and interest when a debt is
amortized.
• E :
• EASEMENT - A property interest which one person has in land
owned by another entitling the holder of the interest to
limited use or enjoyment of the other's land.
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16. Home Loan Glossary :
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• Acceptance Letter :
The letter that a borrower eagerly waits to fill up. Once the
loan is issued by the way of sanction letter, the applicant
communicates his willingness to accept the loan by way of an
acceptance letter. He has to send this within a time frame of
1-3 months from the date of the sanction letter.
• Advance EMI :A
Pay back time! Number of equated installments in the form of
post dated cheques, paid out in advance .
• Administrative Fee :
Unavoidable pay out by which bank/HFC can make money of
you. A one time fee; generally non-refundable; payable before
the loan is disbursed. Rates may vary from 1-2% of the loan
amount.

17. Important Real Estate Organizations In The
World :
Indian Institute of Real Estate (www.iire.co.in)
IIRE is a registered nonprofit organization, championing the
cause of the Indian real estate industry. IIRE has evolved into a
nationally renowned certifying and accreditation institute,
dedicated to enhance the standard of real estate practice in
India. IIRE is designed to be an umbrella organization offering
real estate education through its accredited training centers
across India. IIRE offers one of its kind certifications in Real
Estate. It has tied up with National Association of Realtors®,
the leading real estate Trainings association by Vidya Bhagwat
in the USA, to offer real
estate certification programs in India.

18. • Real Estate 2020: Building the future :
• Global megatrends will change the real estate landscape
considerably over the next six years and beyond. While many
of the trends are already evident, there is a natural tendency
to underestimate how much the real estate world will have
changed by 2020.
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19. Trainings by Vidya Bhagwat