Govt bans approval fees for resale or transfer of registered flats, land

The government issued on Wednesday a directive prohibiting real estate developers from charging any kind of approval or transfer fee during the resale or transfer of land or flats that have already been sold or handed over through registered deeds, reports BSS.
According to an official press release issued by the Ministry of Housing and Public Works, the decision aims to prevent harassment and undue financial burden on property buyers and sellers.
"No real estate developer shall demand or collect any money from the buyer or seller in the name of sale approval, transfer approval, mutation, or under any other pretext during the subsequent resale or transfer of such land or flats," the release said, adding that such practices are completely illegal.
The government warned that any individual or organisation found violating this order will face legal action under the Real Estate Development and Management Act, 2010.