December 2017 - Page 12 of 16

Most of the flat-owners of the newly constructed apartments do not have their sale deeds or conveyance deeds or even names in the 7/12. Mostly in the newly constructed buildings, the builders provide for making a housing co-operative society to which they shall transfer their interest in the property. Then the builders make the society but do not pass on the title of the property (read ownership) to the flat-owners or the society till he has sold all the flats in the building. Thus the builders are benefiting from the buyers lack of awareness and information.

To curb this practice, amendments were carried out in the Maharashtra Ownership Flats Act, 1963, in 2008 to appoint a Competent Authority (Registrar of Co-operative Housing Societies) to hear the grievances of such apartment owners and to safeguard the interest of such societies.

MEANING OFCONVEYANCE:
Conveyance means to transfer or convey anything to another person. In the legal sense Conveyance refers to the transfer of ownership or other interest in the property to the other party. Conveyance Deed is a document executed to transfer the title of land and building in favour of Society or Association of Persons (AOP). A deemed conveyance means when the builder/ promoter/ developer of the project refuses to sign the conveyance deed the court can sign the same on behalf of the builder and record the same in the government records.

WHEN IS THERE A NEED FOR DEEMED CONVEYANCE:
In a situation when a promoter or owner of residential premises/ buildings does not transfer/convey the ownership of the flats to the housing society or association of persons (AOP), the society or AOP can make an application to Registrar of Co-operative Housing Societies, to transfer the ownership of the said flats to them. This process is carried on through Deemed Conveyance of the title of the buildings and land in favour of the Society or AOP without the need of the builder to do so.

IMPORTANCE AND PROVISION OF LAW ON CONVEYANCE:
As per the Housing Society bye-laws, the main objective of formation of the Society is to obtain the Conveyance; and if Conveyance is not given by the Builder within four months from the date of registration of the Society, a case can be filed against the Builder to obtain the Conveyance. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance is an offence and the Builder can be imprisoned up to 3 years or fined or both.

ADVANTAGES OF CONVEYANCE:
1. Getting a proper and legal title in the name of the Society.
2. Retaining the additional FSI as per the Government announcements.
3. Property will be free and marketable.
4. Society can raise the loans for repairs and reconstruction by mortgage.
5. Permission from planning authorities is possible if the building has to be reconstructed at a later date due to dilapidation of the structure due to age or by earthquake.
6. Society can take the benefit of TDR.
7. Members can receive compensation from Builder on redevelopment of the building.

DISADVANTAGES OF NOT HAVING CONVEYANCE DEED
1. Even though you have purchased ownership flat, you are not the owner of the land and building. 2. In the event of a building collapse or damage to the building, you cannot reconstruct the building without the permission of the Builder / Land owner.
2. The Builder/Developer may mortgage the property purchased by you as he is the legal owner and holding the Title Deeds of the Property.
3. The Builder/Developer may transfer the FSI/ TDR to his other projects and enjoy the commercial benefits, depriving the flat purchasers/Society of its legal entitlement.
4. The Builder may make profit by sale of open spaces, gardens, terrace, parking space belonging to the Society.
5. The Builder may demand a huge amount from the Society, if Conveyance is sought by the Society after a lapse of many years.
6. The Builder may sell the entire Development Rights and the Legal Rights on the land to third party and create a third party interest in the Property and the Society will have to incur a huge amount to clear the same.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 11th, 2017|Advocates for Deem Conveyance Process in Pune|Comments Off

Most of the flat-owners of the newly constructed apartments do not have their sale deeds or conveyance deeds or even names in the 7/12. Mostly in the newly constructed buildings, the builders provide for making a housing co-operative society to which they shall transfer their interest in the property. Then the builders make the society but do not pass on the title of the property (read ownership) to the flat-owners or the society till he has sold all the flats in the building. Thus the builders are benefiting from the buyers lack of awareness and information.

To curb this practice, amendments were carried out in the Maharashtra Ownership Flats Act, 1963, in 2008 to appoint a Competent Authority (Registrar of Co-operative Housing Societies) to hear the grievances of such apartment owners and to safeguard the interest of such societies.

MEANING OFCONVEYANCE:
Conveyance means to transfer or convey anything to another person. In the legal sense Conveyance refers to the transfer of ownership or other interest in the property to the other party. Conveyance Deed is a document executed to transfer the title of land and building in favour of Society or Association of Persons (AOP). A deemed conveyance means when the builder/ promoter/ developer of the project refuses to sign the conveyance deed the court can sign the same on behalf of the builder and record the same in the government records.

WHEN IS THERE A NEED FOR DEEMED CONVEYANCE:
In a situation when a promoter or owner of residential premises/ buildings does not transfer/convey the ownership of the flats to the housing society or association of persons (AOP), the society or AOP can make an application to Registrar of Co-operative Housing Societies, to transfer the ownership of the said flats to them. This process is carried on through Deemed Conveyance of the title of the buildings and land in favour of the Society or AOP without the need of the builder to do so.

IMPORTANCE AND PROVISION OF LAW ON CONVEYANCE:
As per the Housing Society bye-laws, the main objective of formation of the Society is to obtain the Conveyance; and if Conveyance is not given by the Builder within four months from the date of registration of the Society, a case can be filed against the Builder to obtain the Conveyance. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance is an offence and the Builder can be imprisoned up to 3 years or fined or both.

ADVANTAGES OF CONVEYANCE:
1. Getting a proper and legal title in the name of the Society.
2. Retaining the additional FSI as per the Government announcements.
3. Property will be free and marketable.
4. Society can raise the loans for repairs and reconstruction by mortgage.
5. Permission from planning authorities is possible if the building has to be reconstructed at a later date due to dilapidation of the structure due to age or by earthquake.
6. Society can take the benefit of TDR.
7. Members can receive compensation from Builder on redevelopment of the building.

DISADVANTAGES OF NOT HAVING CONVEYANCE DEED
1. Even though you have purchased ownership flat, you are not the owner of the land and building. 2. In the event of a building collapse or damage to the building, you cannot reconstruct the building without the permission of the Builder / Land owner.
2. The Builder/Developer may mortgage the property purchased by you as he is the legal owner and holding the Title Deeds of the Property.
3. The Builder/Developer may transfer the FSI/ TDR to his other projects and enjoy the commercial benefits, depriving the flat purchasers/Society of its legal entitlement.
4. The Builder may make profit by sale of open spaces, gardens, terrace, parking space belonging to the Society.
5. The Builder may demand a huge amount from the Society, if Conveyance is sought by the Society after a lapse of many years.
6. The Builder may sell the entire Development Rights and the Legal Rights on the land to third party and create a third party interest in the Property and the Society will have to incur a huge amount to clear the same.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 11th, 2017|Conveyance Services for Societies|Comments Off

Conveyance Deed of Society in Pune

Most of the flat-owners of the newly constructed apartments do not have their sale deeds or conveyance deeds or even names in the 7/12. Mostly in the newly constructed buildings, the builders provide for making a housing co-operative society to which they shall transfer their interest in the property. Then the builders make the society but do not pass on the title of the property (read ownership) to the flat-owners or the society till he has sold all the flats in the building. Thus the builders are benefiting from the buyers lack of awareness and information.

To curb this practice, amendments were carried out in the Maharashtra Ownership Flats Act, 1963, in 2008 to appoint a Competent Authority (Registrar of Co-operative Housing Societies) to hear the grievances of such apartment owners and to safeguard the interest of such societies.

MEANING OF CONVEYANCE:

Conveyance means to transfer or convey anything to another person. In the legal sense Conveyance refers to the transfer of ownership or other interest in the property to the other party. Conveyance Deed is a document executed to transfer the title of land and building in favour of Society or Association of Persons (AOP). A deemed conveyance means when the builder/ promoter/ developer of the project refuses to sign the conveyance deed the court can sign the same on behalf of the builder and record the same in the government records.

WHEN IS THERE A NEED FOR DEEMED CONVEYANCE:

In a situation when a promoter or owner of residential premises/ buildings does not transfer/convey the ownership of the flats to the housing society or association of persons (AOP), the society or AOP can make an application to Registrar of Co-operative Housing Societies, to transfer the ownership of the said flats to them. This process is carried on through Deemed Conveyance of the title of the buildings and land in favour of the Society or AOP without the need of the builder to do so.

IMPORTANCE AND PROVISION OF LAW ON CONVEYANCE:

As per the Housing Society bye-laws, the main objective of formation of the Society is to obtain the Conveyance; and if Conveyance is not given by the Builder within four months from the date of registration of the Society, a case can be filed against the Builder to obtain the Conveyance. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance is an offence and the Builder can be imprisoned up to 3 years or fined or both.

ADVANTAGES OF CONVEYANCE:

Getting a proper and legal title in the name of the Society.
Retaining the additional FSI as per the Government announcements.
Property will be free and marketable.
Society can raise the loans for repairs and reconstruction by mortgage.
Permission from planning authorities is possible if the building has to be reconstructed at a later date due to dilapidation of the structure due to age or by earthquake.
Society can take the benefit of TDR.
Members can receive compensation from Builder on redevelopment of the building.

DISADVANTAGES OF NOT HAVING CONVEYANCE DEED

Even though you have purchased ownership flat, you are not the owner of the land and building. 2. In the event of a building collapse or damage to the building, you cannot reconstruct the building without the permission of the Builder / Land owner.
The Builder/Developer may mortgage the property purchased by you as he is the legal owner and holding the Title Deeds of the Property.
The Builder/Developer may transfer the FSI/ TDR to his other projects and enjoy the commercial benefits, depriving the flat purchasers/Society of its legal entitlement.
The Builder may make profit by sale of open spaces, gardens, terrace, parking space belonging to the Society.
The Builder may demand a huge amount from the Society, if Conveyance is sought by the Society after a lapse of many years.
The Builder may sell the entire Development Rights and the Legal Rights on the land to third party and create a third party interest in the Property and the Society will have to incur a huge amount to clear the same.

FOR MORE DETAILS CALL:

VED LEGAL,

Adv. Gajanan Rahate

Mob: 9763040088

E_mail: [email protected]

By admin|December 11th, 2017|Conveyance Deed of Society in Pune|Comments Off

Advocates for transfer of Share in Pune

INTRODUCTION
The Maharashtra Ownership Flats (Regulation of the Promotion, Construction, Sale, Management and Transfer) Act, 1963 (Hereinafter referred to as “the MOFA”) was an attempt to mitigate all the unscrupulous practices pertaining to promotion, construction, sale, management and transfer of flats sold on an ownership basis within the State of Maharashtra.

The Act defines a “flat” as:
“A separate and self-contained premises, which is used or is intended to be used as a Residence, Office, Showroom, Shop, Godown, carrying on of any industry or business including a Garage and the premises forms part of a building.
Explanation: Notwithstanding that provisions are made for sanitary, washing, bathing or other conveniences as common to two ‘or more sets of premises, the premises shall be deemed to be separate and self-contained.”

Moreover, a “promoter” is one who is defined as follows:

“…a person who constructs or causes to be constructed a block or building of flats [or apartments] for the purpose of selling some or all of them to other persons, or to a company, co-operative society, or other association of persons, and includes his assignees; and where the person who builds and the person who sells are different persons, the term includes both.”

The Sections 10 and 11 under MOFA jointly regulate the conveyance of title. Section10 mandates that as and when the minimum requisite individuals for a co-operative society or company have purchased flats, the promoter is required to submit an application, within the prescribed period, for the registration of the conglomerate of persons who take the flat either as a cooperative society or as a company.

This is followed by Section 11, wherein, the promoter shall take all the necessary steps to complete his title and convey, to the conglomerate of persons, registered either as a company or a co-operative housing society, who purchase flats, his right, title, and interest in the building and execute all the relevant documents thereof in accordance with the agreement. This period for the execution of the conveyance could either be agreed upon or if not, then the execution must be done in the prescribed period and documents of title, in the promoter’s possession or power is delivered.
Therefore, once the title is conveyed to the conglomerate of persons registered as a society, here is when the question of transfer of shares crops up, which is discussed in detail in the following paragraphs.

LAW RELATING TO TRANSFER OF SHARES OF A SOCIETY IN MAHARASHTRA

Section 29 of the Maharashtra Co-operative Societies Act, 1960 and Rule 24 of the Maharashtra Co-operative Societies Rules, 1961 and Bye-laws 37 and 38 are the major provisions concerned with the transfer of flats.

PROCEDURE FOR TRANSFER: COMPLIANCE WITH ESSENTIAL REQUIREMENTS
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, a member has to hold the shares for at least a period of one year before he transfers his shares together with his interest in the flat. According to the Rule 24 of Maharashtra Co-operative Societies Rules, 1961 every transfer of shares, as a mandate, has to be as per the bye-laws adopted by the Society, order to be effective. Further important requirements for transfer are as under:

• Clear fifteen days’ notice in writing is required to be given to the Society indicating therein the name of the proposed transferee, his consent and the value proposed to be paid by the transferee. On receipt of this notice, the secretary of the society will place it before the meeting of the committee held next, pointing out whether the member is prima facie eligible to transfer his shares and interest in the capital or property of the society or not. If the committee is satisfied that the member is prima facie eligible to transfer his shares and interest in the capital or property of the society or ineligible therefor, it will direct the secretary to inform the member within three days.

• All dues and liabilities of the transferor due to the Society including any charge in favor of the Society on the share so transferred, are to be discharged;

• Application in the prescribed form, for transfer of shares and interest in the capital/property of the society, along with the share certificate are to be submitted;

• Resignation by the original member has to be tendered

• The application has to be submitted by the proposed transferee for membership of the Society

• Payment of Transfer fee as may be prescribed under the bye-laws of the Society, i.e., Rs.500

• Transfer premium at the rate fixed by the general body, but within the limit prescribed by circulars issued by the Government from time to time. As per the circular dated 20/12/1989 the transfer premium should not exceed 25,000/-

• A copy of duly registered agreement with appropriate stamp duty must be paid to the Society

• Declaration by the transferee to use the flat for residence purpose only, or state the reasons otherwise when use is apart from residential purpose

• An Undertaking by the transferor to discharge all liabilities to the Society

• If the transferor has availed of any loan for purchasing the flat from any bank, housing financing agency, no objection from that bank or housing financing agency is required to be submitted to the Society.

DISPOSAL OF TRANSFER APPLICATIONS
The Bye-Law no. 38 deals with the disposal of transfer applications. The Secretary should scrutinize the documents received and verify as to the conformity with the Act, Rules, and Bye-laws of the Society and place the same before the Managing Committee of the Society for its approval. If such application is rejected, the Secretary has to communicate the decision to the applicant within 15 days from the date of the decision or within 3 months from the date of receipt of the application, whichever is earlier. If the applicant does not receive intimation from the Society within 3 months from the date of submission of application, it is deemed that the application for membership is accepted.

RESTRICTIONS ON TRANSFER OF SHARES
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, no share can be transferred unless the share has been held for one year before the transfer and it is made to no one else but the member of the society, or one whose application for membership has been accepted or one who is deemed to be a member of the society.

TRANSFER V. TRANSMISSION OF SHARES
Transfer of shares in a CHS together with the interest of the member in the flat allotted to him as a member of the society can be by way of sale or by gift whereas transmission takes place on demise of the member either according to the will of the deceased member or according to personal law of succession applicable to the deceased member, in absence of his valid will.
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, no share can be transferred unless the share has been held for one year before the transfer and it is made to no one else but the member of the society, or one whose application for membership has been accepted or one who is deemed to be a member of the society.

TRANSFER V. TRANSMISSION OF SHARES
Transfer of shares in a CHS together with the interest of the member in the flat allotted to him as a member of the society can be by way of sale or by gift whereas transmission takes place on demise of the member either according to the will of the deceased member or according to personal law of succession applicable to the deceased member, in absence of his valid will.
In case of transfer by sale, proper sale deed is required to be executed by and between the seller and the buyer, proper stamp duty as per the market value of such flat as specified in the Stamp Duty Ready Reckoner is required to be paid and the sale deed also needs to be registered as required under The Registration Act,1908. Further, as per the bye-law of the Society, transfer premium up to a maximum of ` 25,000/- is payable to the Society. Whereas in the case of transmission no such documentation is required and as such, no stamp duty is payable as well no transfer premium is payable to the Society.

CONCLUSION
Every Society must have their bye-laws laid down so that compliance becomes easier in cases of transfers between members.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Advocates for transfer of Share in Pune|Comments Off

Advocates for transfer of share of member in Co-operative Housing society in Pune

INTRODUCTION
The Maharashtra Ownership Flats (Regulation of the Promotion, Construction, Sale, Management and Transfer) Act, 1963 (Hereinafter referred to as “the MOFA”) was an attempt to mitigate all the unscrupulous practices pertaining to promotion, construction, sale, management and transfer of flats sold on an ownership basis within the State of Maharashtra.

The Act defines a “flat” as:
“A separate and self-contained premises, which is used or is intended to be used as a Residence, Office, Showroom, Shop, Godown, carrying on of any industry or business including a Garage and the premises forms part of a building.
Explanation: Notwithstanding that provisions are made for sanitary, washing, bathing or other conveniences as common to two ‘or more sets of premises, the premises shall be deemed to be separate and self-contained.”

Moreover, a “promoter” is one who is defined as follows:
“…a person who constructs or causes to be constructed a block or building of flats [or apartments] for the purpose of selling some or all of them to other persons, or to a company, co-operative society, or other association of persons, and includes his assignees; and where the person who builds and the person who sells are different persons, the term includes both.”

The Sections 10 and 11 under MOFA jointly regulate the conveyance of title. Section10 mandates that as and when the minimum requisite individuals for a co-operative society or company have purchased flats, the promoter is required to submit an application, within the prescribed period, for the registration of the conglomerate of persons who take the flat either as a cooperative society or as a company.
This is followed by Section 11, wherein, the promoter shall take all the necessary steps to complete his title and convey, to the conglomerate of persons, registered either as a company or a co-operative housing society, who purchase flats, his right, title, and interest in the building and execute all the relevant documents thereof in accordance with the agreement. This period for the execution of the conveyance could either be agreed upon or if not, then the execution must be done in the prescribed period and documents of title, in the promoter’s possession or power is delivered.
Therefore, once the title is conveyed to the conglomerate of persons registered as a society, here is when the question of transfer of shares crops up, which is discussed in detail in the following paragraphs.

LAW RELATING TO TRANSFER OF SHARES OF A SOCIETY IN MAHARASHTRA

Section 29 of the Maharashtra Co-operative Societies Act, 1960 and Rule 24 of the Maharashtra Co-operative Societies Rules, 1961 and Bye-laws 37 and 38 are the major provisions concerned with the transfer of flats.

PROCEDURE FOR TRANSFER: COMPLIANCE WITH ESSENTIAL REQUIREMENTS
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, a member has to hold the shares for at least a period of one year before he transfers his shares together with his interest in the flat. According to the Rule 24 of Maharashtra Co-operative Societies Rules, 1961 every transfer of shares, as a mandate, has to be as per the bye-laws adopted by the Society, order to be effective. Further important requirements for transfer are as under:

• Clear fifteen days’ notice in writing is required to be given to the Society indicating therein the name of the proposed transferee, his consent and the value proposed to be paid by the transferee. On receipt of this notice, the secretary of the society will place it before the meeting of the committee held next, pointing out whether the member is prima facie eligible to transfer his shares and interest in the capital or property of the society or not. If the committee is satisfied that the member is prima facie eligible to transfer his shares and interest in the capital or property of the society or ineligible therefor, it will direct the secretary to inform the member within three days.

• All dues and liabilities of the transferor due to the Society including any charge in favor of the Society on the share so transferred, are to be discharged;

• Application in the prescribed form, for transfer of shares and interest in the capital/property of the society, along with the share certificate are to be submitted;

• Resignation by the original member has to be tendered

• The application has to be submitted by the proposed transferee for membership of the Society

• Payment of Transfer fee as may be prescribed under the bye-laws of the Society, i.e., Rs.500

• Transfer premium at the rate fixed by the general body, but within the limit prescribed by circulars issued by the Government from time to time. As per the circular dated 20/12/1989 the transfer premium should not exceed 25,000/-

• A copy of duly registered agreement with appropriate stamp duty must be paid to the Society

• Declaration by the transferee to use the flat for residence purpose only, or state the reasons otherwise when use is apart from residential purpose

• An Undertaking by the transferor to discharge all liabilities to the Society

• If the transferor has availed of any loan for purchasing the flat from any bank, housing financing agency, no objection from that bank or housing financing agency is required to be submitted to the Society.

DISPOSAL OF TRANSFER APPLICATIONS
The Bye-Law no. 38 deals with the disposal of transfer applications. The Secretary should scrutinize the documents received and verify as to the conformity with the Act, Rules, and Bye-laws of the Society and place the same before the Managing Committee of the Society for its approval. If such application is rejected, the Secretary has to communicate the decision to the applicant within 15 days from the date of the decision or within 3 months from the date of receipt of the application, whichever is earlier. If the applicant does not receive intimation from the Society within 3 months from the date of submission of application, it is deemed that the application for membership is accepted.

RESTRICTIONS ON TRANSFER OF SHARES
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, no share can be transferred unless the share has been held for one year before the transfer and it is made to no one else but the member of the society, or one whose application for membership has been accepted or one who is deemed to be a member of the society.

TRANSFER V. TRANSMISSION OF SHARES
Transfer of shares in a CHS together with the interest of the member in the flat allotted to him as a member of the society can be by way of sale or by gift whereas transmission takes place on demise of the member either according to the will of the deceased member or according to personal law of succession applicable to the deceased member, in absence of his valid will.
Under Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, no share can be transferred unless the share has been held for one year before the transfer and it is made to no one else but the member of the society, or one whose application for membership has been accepted or one who is deemed to be a member of the society.

TRANSFER V. TRANSMISSION OF SHARES
Transfer of shares in a CHS together with the interest of the member in the flat allotted to him as a member of the society can be by way of sale or by gift whereas transmission takes place on demise of the member either according to the will of the deceased member or according to personal law of succession applicable to the deceased member, in absence of his valid will.
In case of transfer by sale, proper sale deed is required to be executed by and between the seller and the buyer, proper stamp duty as per the market value of such flat as specified in the Stamp Duty Ready Reckoner is required to be paid and the sale deed also needs to be registered as required under The Registration Act,1908. Further, as per the bye-law of the Society, transfer premium up to a maximum of ` 25,000/- is payable to the Society. Whereas in the case of transmission no such documentation is required and as such, no stamp duty is payable as well no transfer premium is payable to the Society.

CONCLUSION
Every Society must have their bye-laws laid down so that compliance becomes easier in cases of transfers between members.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Advocates for transfer of share of member in Co-operative Housing society in Pune|Comments Off

Builder’s Handover Process

The date of handover from builder to the registered owners association is an important day for new apartment owners and all residents. It has to be taken seriously and detailed due diligence must be done when interacting with the builders during this handover process. Once the formal handover to the Owners Association is completed, the onus is on the association to run the affairs of the society and to ensure its smooth functioning. The association must be prepared for this day for 3+ months leading to this event.

It is recommended that owners collaboratively engage with the builder right from late construction stages that will help them to take-up this responsibility in future. The builders can also reach out to representatives from the owners group to assist in the selection of maintenance agency which prepares them for the handover process.

Based on our experience in interacting with various builders and associations, we have collated a check list that associations can use when in dialogue with the builder on the handover process:
1. Get approved building plan which includes block-wise and floor-wise details
2. Collect the Completion Certificate which ensures adherence of the approved plan
3. No Objection certificates from pollution, fire, water and electricity authorities
4. Hard copy and soft copy (in CD) of all approved engineering drawings; look for approval seal on the drawings
5. Registration and parent documents
6. Drainage, sewage, Fire protection and common area power layout drawings
7. Car parking layout drawings (with numbering)
8. Asset Inventory of all movable and immovable equipment purchased; numbered in order (list needs to be exhaustive)
9. Record of recent service history on key equipment’s like lifts, DG sets, STP and WTP
10.AMC and warranty details; Original bills of equipment purchased (motors, Sewage and Water Treatment Plant, Generators, Gym items like treadmill)
11.Lift license details and next renewal date
12.STP/WTP vendor details, plant layout, operation manual and drawings
13.Receipts of property, electricity and water payments paid
14.Handover of corpus amount to the association
15.Share recent expenses incurred on various maintenance activities and account heads; will assist to budget coming year (staff salaries, purchase of cleaning material, swimming pool maintenance etc)
16.Contract signed with maintenance agency; agreed SLAs
17.Insurance taken for assets and third party lift insurance
18.Audited account statement at the time of handover
19. Arrange for introductory meeting with important suppliers and vendors

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Builder’s Handover Process:-|Comments Off

Builder/ Promoter is not co-operating in registering the Co-operative Housing Society

If builder/promoter procrastinate in registering the Co-operative Housing Society, then in that case, the application for registration of society be submitted in Form 6 (Rule 12) before the authorized officer (District Dy. Registrar in the respective district, who have given power under section 10(1) of the Maharashtra Ownership Flats Act 1963 (For making regulation for encouraging their constructions, their sale, management and transfer).

While submitting the said proposal, following documents are Necessary.
• 7/12 extract of the land or property card.
• Competent Authority Certificate regarding non-Agricultural land.
• Order regarding applicable/non-applicable Land ceiling Act Map of the construction approved by the competent authority.
• Letter of given permission for construction.
• Completion certificate of Construction.
• Development Agreement if the land is taken for development.
• Power of Authority letter of the Land.
• Copy of the Title search Report.
• Agreement copy of the flat purchased.
• Architect certificate regarding construction.
• List of the Members.
• Scheme of the Society.
• Application regarding reservation of Name.
• Minimum 10 Members shall necessary for the registration of the Society.
• Application for registration of Society (A Form)
• Table containing information of the society (B Form)
• Table containing information of the members (C Form)
• Statement of Accounts of the members (D Form)
• Notarized guarantee letter of the chief promoter of society on the stamp paper of Rs. 100/-
• Notarized Indemnity Bond of the members who applied for the registration of society on the stamp paper of Rs. 200/-
• Affidavit of the Members (Minimum 10 promoters’ Affidavit)
• Two copies of bye laws approved by the Commissioner, Co-operation and Registrar, Maharashtra State, Pune.
• Bank balance statement of the promoter members who have deposited Rs.500/- each as a share and admission fee Rs.100/- in District
• Central Co-operative Bank after getting sanction for the reservation of name in district of Rs.2500/- paid as society Registration fee in the Government Treasure.

The proposal submitted after fulfillment of above mentioned documents, the competent authority by taking hearing, issued orders to the concerned officer for registering the society.

The scrutiny of the registration proposal submitted after fulfillment of documents as mentioned above and criterion will be done after taking into consideration the instructions in the circular/ directives regarding registration issued by the Government/ Commissioner, Co-operation. It is obligatory on the concerned Registrar to make registration by considering various provisions in the Act and Rules and instructions given in the circular/ directives.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Builder/ Promoter is not co-operating in registering the Co-operative Housing Society|Comments Off

List of Documents Required for Society Formation

While submitting the said proposal, following documents are Necessary:
• 7/12 extract of the land or property card.
• Competent Authority Certificate regarding non-Agricultural land.
• Order regarding applicable/non-applicable Land ceiling Act Map of the construction approved by the competent authority.
• Letter of given permission for construction.
• Completion certificate of Construction.
• Development Agreement if the land is taken for development.
• Power of Authority letter of the Land.
• Copy of the Title search Report.
• Agreement copy of the flat purchased.
• Architect certificate regarding construction.
• List of the Members.
• Scheme of the Society.
• Application regarding reservation of Name.
• Minimum 10 Members shall necessary for the registration of the Society.
• Application for registration of Society (A Form)
• Table containing information of the society (B Form)
• Table containing information of the members (C Form)
• Statement of Accounts of the members (D Form)
• Notarized guarantee letter of the chief promoter of society on the stamp paper of Rs. 100/-
• Notarized Indemnity Bond of the members who applied for the registration of society on the stamp paper of Rs. 200/-
• Affidavit of the Members (Minimum 10 promoters’ Affidavit)
• Two copies of bye laws approved by the Commissioner, Co-operation and Registrar, Maharashtra State, Pune.
• Bank balance statement of the promoter members who have deposited Rs.500/- each as a share and admission fee Rs.100/- in District
• Central Co-operative Bank after getting sanction for the reservation of name in district of Rs.2500/- paid as society Registration fee in the Government Treasure.

The proposal submitted after fulfillment of above mentioned documents, the competent authority by taking hearing, issued orders to the concerned officer for registering the society.

The scrutiny of the registration proposal submitted after fulfillment of documents as mentioned above and criterion will be done after taking into consideration the instructions in the circular/ directives regarding registration issued by the Government/ Commissioner, Co-operation. It is obligatory on the concerned Registrar to make registration by considering various provisions in the Act and Rules and instructions given in the circular/ directives.

By admin|December 9th, 2017|List of Documents Required for Society Formation|Comments Off

Housing Society Formation Pune

First general body meeting (before registration)

In this meeting under Society’s Model Bye-law 3(iii), the Chief Promoter (could be the builder) is primarily selected by the promoters, who are members co-signing the registration application before the Registering Authority, under Bye-law 3(xii).
Application for registration

Normally, the name reservation proposal should be accompanied with the society resolutions and signatures of at least 10 Promoters who have attended the meeting. On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the society is registered or its registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit registration proposal to the registering authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed society.

Co-operative Societies Commissioner & Registrar’s GR No. SAGRUVO/1094/Pra.Kra 277/14C dated 10 March 1995 says “By exercising the powers in section 7 of the Co-operative Societies Act 1960 the government is pleased to exempt the provision of minimum 10 members for registering co-operative Housing society under sub-clause 1 in Section 6 of the said Act subject to the conditions that the plinth area of each flat in the proposed co-operative Housing Society should not be more than 700 sq. ft and FSI should not be balance for utilization in the proposed societies land/ building.
If builder/ promoter is not co-operating in registering the Co-operative Housing Society, then in that case, the application for registration of society be submitted in Form 6 (Rule 12) before the District Deputy Registrar, who has been given power under section 10(1) of the Maharashtra Ownership Flats Act 1963. While submitting the said proposal, a Notarized Indemnity Bond of the members who applied for the registration of society on the stamp paper of Rs. 200 is required.

Approval by Registrar
It is the duty of the concerned Registrar to register the Co-operative Housing Society, by scrutinizing the proposal submitted after fulfillment of above mentioned documents, and shall make an arrangement of issuing certificate of registration society under Section 9(1) of the Maharashtra Co-operative Society Act 1960, and copy of the registered bye-law, memorandum regarding registration of society to the chief promoter. The order regarding registration of society should have been sent for publishing in government gazette to the Government Printing Press for appropriate action. It is necessary to take decision on the registration of the society within a period of two months from the date of the proposal of the society submitted to the Registrar.

If proposal of society registration is denied or no decision is taken within two months then it is necessary to send that proposal to the Divisional Joint Registrar, Co-operative Societies under Section 152 of the Maharashtra Co. operative societies Act, can be approached.

First General Body Meeting obligatory Agenda (after registration):
• To elect a Chairman for the meeting
• To admit persons to membership who have applied for membership of the society.
• To elect a provisional Managing Committee
• To receive and approve the statement of account as prepared by the Chief Promoter of the society up to 14 days prior to the first general body meeting of the society.
• To authorize the committee to secure conveyance of right title and interest in the property in the name of the society from the promoter builder
• To impose restrictions on raising loan amount from outside
• To appoint internal auditor and to fix his remuneration
• To authorize one of the members of the provisional committee to call the first meeting of the provisional committee
• To take decision about taking membership of District Housing Federation and other institutions
• To give power to one member of provisional management committee to call meeting of the managing committee
• To consider the matters raised by the member except these matters which are necessary for giving advance notice with the permission of chairman and eleventh hour matter and to make resolution in that regard.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Housing Society Formation Pune|Comments Off

Cooperative Societies Registration in Pune

First general body meeting (before registration)

In this meeting under Society’s Model Bye-law 3(iii), the Chief Promoter (could be the builder) is primarily selected by the promoters, who are members co-signing the registration application before the Registering Authority, under Bye-law 3(xii).

Application for registration

Normally, the name reservation proposal should be accompanied with the society resolutions and signatures of at least 10 Promoters who have attended the meeting. On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the society is registered or its registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit registration proposal to the registering authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed society.

Co-operative Societies Commissioner & Registrar’s GR No. SAGRUVO/1094/Pra.Kra 277/14C dated 10 March 1995 says “By exercising the powers in section 7 of the Co-operative Societies Act 1960 the government is pleased to exempt the provision of minimum 10 members for registering co-operative Housing society under sub-clause 1 in Section 6 of the said Act subject to the conditions that the plinth area of each flat in the proposed co-operative Housing Society should not be more than 700 sq. ft and FSI should not be balance for utilization in the proposed societies land/ building.
If builder/ promoter is not co-operating in registering the Co-operative Housing Society, then in that case, the application for registration of society be submitted in Form 6 (Rule 12) before the District Deputy Registrar, who has been given power under section 10(1) of the Maharashtra Ownership Flats Act 1963. While submitting the said proposal, a Notarized Indemnity Bond of the members who applied for the registration of society on the stamp paper of Rs. 200 is required.

Approval by Registrar

It is the duty of the concerned Registrar to register the Co-operative Housing Society, by scrutinizing the proposal submitted after fulfillment of above mentioned documents, and shall make an arrangement of issuing certificate of registration society under Section 9(1) of the Maharashtra Co-operative Society Act 1960, and copy of the registered bye-law, memorandum regarding registration of society to the chief promoter. The order regarding registration of society should have been sent for publishing in government gazette to the Government Printing Press for appropriate action. It is necessary to take decision on the registration of the society within a period of two months from the date of the proposal of the society submitted to the Registrar.

If proposal of society registration is denied or no decision is taken within two months then it is necessary to send that proposal to the Divisional Joint Registrar, Co-operative Societies under Section 152 of the Maharashtra Co. operative societies Act, can be approached.

First General Body Meeting obligatory Agenda (after registration):
• To elect a Chairman for the meeting
• To admit persons to membership who have applied for membership of the society.
• To elect a provisional Managing Committee
• To receive and approve the statement of account as prepared by the Chief Promoter of the society up to 14 days prior to the first general body meeting of the society.
• To authorize the committee to secure conveyance of right title and interest in the property in the name of the society from the promoter builder
• To impose restrictions on raising loan amount from outside
• To appoint internal auditor and to fix his remuneration
• To authorize one of the members of the provisional committee to call the first meeting of the provisional committee
• To take decision about taking membership of District Housing Federation and other institutions
• To give power to one member of provisional management committee to call meeting of the managing committee
• To consider the matters raised by the member except these matters which are necessary for giving advance notice with the permission of chairman and eleventh hour matter and to make resolution in that regard.

FOR MORE DETAILS CALL:
VED LEGAL,
Adv. Gajanan Rahate
Mob: 9763040088
E_mail: [email protected]

By admin|December 9th, 2017|Cooperative Societies Registration in Pune|Comments Off