Section 25(3) in The Maharashtra Housing and Area Development (Estate Management, Sale, Transfer and Exchange of Tenements) Regulations, 1981
(3)If any allottee transfers any tenement in contravention of the provisions of clause (1) or clause (2) -(a)the Board may declare such transfer to be invalid and to be of no effect, and the transfer made in favour of the transferee shall stand cancelled;(b)the transferee shall deemed to be in unauthorised occupation of the tenement and may be evicted therefrom under Chapter IV of the Act :Provided that, no such declaration shall be made unless the transferee has been given an opportunity to submit his explanation in writing to the Board; and(c)the Authority shall refund the amount paid by the allottee without any interest after deducting an amount equal to rent for the period during which the tenement was occupied by the allottee.Explanation. - In this clause "rent" means "economic rent" as determined by the Board.
