Recently the question come up in the Co-operative Department that, if any of the member of Co-operative Housing Society resigned his membership and new allotment takes place. In that case property transfer takes place & stamp duty should be paid thereof.
The answer to the question is "NO", for the reason that if the member not less than one year hold share of a society then he is competent to transfer his share to another. But the other person must be a member of the same society or society may grant his membership. To transfer share or allotment to the member is an inter society transaction. For that law does not enforce compulsory registration. consequently no question arises to pay stamp duty to the member of a Co-operative Society.