December 2017 - Page 13 of 16

Best Society Formation lawyers

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.

We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

Our specialized services include:
• Initial screening
• Gap identification and ratification
• Process documentation and finalization
• Dispute resolution
• Society name reservation at respective co-operative departments
• Account formation and legal documentation

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

By admin|December 9th, 2017|Best Society Formation lawyers|Comments Off

Advocates for Society Registration and Formation

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.

We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

Our specialized services include:

Initial screening
Gap identification and ratification
Process documentation and finalization
Dispute resolution
Society name reservation at respective co-operative departments
Account formation and legal documentation

FOR MORE DETAILS CALL:

VED LEGAL,

Adv. Gajanan Rahate

Mob: 9763040088

E_mail: [email protected]

By admin|December 9th, 2017|Advocates for Society Registration and Formation, Advocates for Society Registration and Formation in Pune|Comments Off

Advocates for Society Formation in Pune

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.

We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

Our specialized services include:
• Initial screening
• Gap identification and ratification
• Process documentation and finalization
• Dispute resolution
• Society name reservation at respective co-operative departments
• Account formation and legal documentation

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

By admin|December 9th, 2017|Uncategorized|Comments Off

Advocates for register a new housing society

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

We, the “VED LEGAL” provide registration and formation services which help you at every step of society formation, right from inception to final handover. We look after all the legal complications involved in society formation and carry out necessary negotiations with developers.

We have also completed the registration process for various projects. We specialize in society formation of housing societies, commercial societies, maintenance societies and large townships. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

Our specialized services include:
• Initial screening
• Gap identification and ratification
• Process documentation and finalization
• Dispute resolution
• Society name reservation at respective co-operative departments
• Account formation and legal documentation

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

By admin|December 9th, 2017|ADVOCATES FOR REGISTER A NEW HOUSING SOCIETY|Comments Off

documents required for deemed conveyance

DOCUMENTS REQUIRED TO BE SUBMITTED ALONG WITH APPLICATION TO GET THE DEEMED CONVEYANCE:

• Registered Agreement for sale entered into with the promoter/opponent party
• 7/12 Extract and Village form No.6 (Mutation entries) / Property card,
• Location Plan
• City survey plan or survey plan from the revenue department.
• Layout Plot plan approved by the local authority
• Architect certificate about the entitlement of undivided interest in the entire Layout Plot, common areas and the facilities by each of the entity or the structure constructed or to be constructed on such Layout Plot.
• Latest Title and Search Report for last 30 years from an advocate,
• Non-Agricultural Order (N.A. Order)
• Certificate under Urban Land Ceiling Act, 1976
• Building/ Structure Plan approved by the appropriate authority,
• Commencement Certificate,
• Completion Certificate,
• Occupation Certificate (exempted if not available),
• List of Flat Purchasers
• Proof of payment of Stamp Duty
• Proof of Registration, etc. ,

Development agreement or power of attorney or agreement for sale executed by the landlord with the promoter for development or for transferring the right, title and the interest in the land in favour of the promoter.

Legal notices to be send to the Promoter and other interested parties to execute the conveyance deed or declaration as provided under Maharashtra Apartments Act, 1970 in favour of the applicant/s.

Draft conveyance deed / Declaration proposed to be executed in favour of the applicant.

By admin|December 8th, 2017|documents required for deemed conveyance, DOCUMENTS REQUIRED FOR PROPERTY|Comments Off

documents required for deemed conveyance

List of documents required for Deemed Conveyance is as follows,

1) Application for Deemed Conveyance in Format VII
2) Society Registration Certificate
3) Chairman / Secretary Sale Agreement Copy
4) Registration Agreement copies by all Members
5) Flat & Shop owners list on society letter head
6) Agreement to Lease with CIDCO
7) Copy of Development Rights / Power of Attorney given to Builder by Villagers / Society / Owner
8) Copy of Occupancy Certificate
9) Copy of C.C.
10) Proposed Deemed Conveyance Agreement copy i.e. Deed of Assignment Deemed Conveyance.
11) Resolution passed by the managing committee for Deemed Conveyance.
12) Architect’s Certificate
13) Title Certificate
14) Plan copy
15) Rs. 2000/- required Court Fee
16) Affidavit
17) Indemnity Bond
18) Verification
19) Bandhapatra
20) Notice given to Builder & Land Owner.

By admin|December 8th, 2017|documents required for deemed conveyance|Comments Off

procedure for deemed conveyance

Stage 1- Preparation for Deemed Conveyance
During this stage the Managing Committee prepares the Members of the Co- Operative Housing Society for Deemed Conveyance.
Stage 2- Documentation for Deemed Conveyance
During this stage the Documents Required for Deemed Conveyance are collected/ organized & the Case is prepared.
Stage 3- Legal Case for Deemed Conveyance
During this stage the case is filed before the Competent Authority & after contesting the same the Order & Certificate upholding the right of Deemed Conveyance of the Society is obtained.
Stage 4- Registration of Deemed Conveyance
During this stage the Deemed Conveyance Deed is Adjudicated, properly Stamped & Registered.
Stage 5- Transfer of Property after Deemed Conveyance
During this stage the Society Name is incorporated in the Land Revenue Records.

Let’s discuss each step in detail:
1. Preparation for Deemed Conveyance:
In this stage the managing committee needs to pass resolution to undergo deemed conveyance. A Special General Meeting is scheduled with prior notification and consent of all the members is obtained to move ahead.
During this SGM the following Resolutions are typically passed.
1. Resolution for going ahead with Deemed Conveyance
2. Resolution for Appointment of Authorized Representative
3. Resolution for Appointment of Legal Consultant for Deemed Conveyance
4. Resolution for Per Member Contributions

2. Documentation for Deemed Conveyance:
This is the most crucial step in obtaining deemed conveyance. It is a very meticulous job and make sure all the documents are lined up within the right format. You would require land revenue records, municipal corporation records, society records, property development records and professional certificates.
All these documents can be obtained from various departments such as Land revenue records from City Survey Office, Tahasildar/ Talathi Office & District Collector Office, municipal corporation records from Building Proposal Department of the Municipal Corporation. Society records and certificates can be obtained from society offices and professionals.
Once all the documents are lined up, society needs to fill in Deemed Conveyance Application- Form VII and attached all the related documents. In case of deemed conveyance, a legal notice is sent to the developer for their consent. In regular conveyance procedures, since the developers or promoters are willingly providing the rights lot of documents can be easily recovered from them.
Once the form is filled up and all documents are annexed it is submitted to the Competent Authority- the District Deputy Registrar of Co- Operative Societies of the particular District.

3. Legal Case for deemed conveyance:
Once the application is submitted to the authorities they issue Deemed Conveyance Scrutiny Report- Form VIII within 1 month. Once the compliance is provided the authorities issues Summons & Newspaper Notices to the Land Owners & Property Developers for appearing for the hearing.
During the hearing process authorities take into consideration the arguments of the both parties. The process takes place within 3-4 months. Once all the arguments are documented the office issues a Deemed Conveyance order within 1 month. The whole process is completed within 6 months as this is a time bound activity.

4. Registration of deemed conveyance:
A deemed conveyance deed is created during this phase and is signed by both societies and developers. If developers do not appear for hearing in the prior stage (Which is the case in deemed conveyance), authorities have the power to sign the deed on behalf of developers.
The society needs to conduct a meeting and appoint 3 members to sign the deed. Post that the deed is submitted to district stamp office for adjudication. If all the members have paid their stamp duty and if there is no balance FSI, the office issues adjudication certificate. (Note – Deed only requires Rs 100 stamp duty). The adjudication certificate needs to be then franked from local bank and resubmitted to registration office.
The registration office then issues notice to land owner/developer to verify if there is any stay order against the deed of conveyance. (Note – The developer can get the stay order only from high court). If there is no stay order the deed of deemed conveyance is registered and then the office issues scanned documents and Index II. This mark end of registration process and the society becomes the owner of the land and structure.

5. Transfer of property:
In this phase a new application is submitted to various departments to make mutation entries in their records. This would make the process complete.

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

By admin|December 8th, 2017|Procedure For Deemed Conveyance|Comments Off

procedure for deemed conveyance in Pune

Stage 1- Preparation for Deemed Conveyance
During this stage the Managing Committee prepares the Members of the Co- Operative Housing Society for Deemed Conveyance.
Stage 2- Documentation for Deemed Conveyance
During this stage the Documents Required for Deemed Conveyance are collected/ organized & the Case is prepared.
Stage 3- Legal Case for Deemed Conveyance
During this stage the case is filed before the Competent Authority & after contesting the same the Order & Certificate upholding the right of Deemed Conveyance of the Society is obtained.
Stage 4- Registration of Deemed Conveyance
During this stage the Deemed Conveyance Deed is Adjudicated, properly Stamped & Registered.
Stage 5- Transfer of Property after Deemed Conveyance
During this stage the Society Name is incorporated in the Land Revenue Records.

Let’s discuss each step in detail:
1. Preparation for Deemed Conveyance:
In this stage the managing committee needs to pass resolution to undergo deemed conveyance. A Special General Meeting is scheduled with prior notification and consent of all the members is obtained to move ahead.
During this SGM the following Resolutions are typically passed.
1. Resolution for going ahead with Deemed Conveyance
2. Resolution for Appointment of Authorized Representative
3. Resolution for Appointment of Legal Consultant for Deemed Conveyance
4. Resolution for Per Member Contributions

2. Documentation for Deemed Conveyance:
This is the most crucial step in obtaining deemed conveyance. It is a very meticulous job and make sure all the documents are lined up within the right format. You would require land revenue records, municipal corporation records, society records, property development records and professional certificates.
All these documents can be obtained from various departments such as Land revenue records from City Survey Office, Tahasildar/ Talathi Office & District Collector Office, municipal corporation records from Building Proposal Department of the Municipal Corporation. Society records and certificates can be obtained from society offices and professionals.
Once all the documents are lined up, society needs to fill in Deemed Conveyance Application- Form VII and attached all the related documents. In case of deemed conveyance, a legal notice is sent to the developer for their consent. In regular conveyance procedures, since the developers or promoters are willingly providing the rights lot of documents can be easily recovered from them.
Once the form is filled up and all documents are annexed it is submitted to the Competent Authority- the District Deputy Registrar of Co- Operative Societies of the particular District.

3. Legal Case for deemed conveyance:
Once the application is submitted to the authorities they issue Deemed Conveyance Scrutiny Report- Form VIII within 1 month. Once the compliance is provided the authorities issues Summons & Newspaper Notices to the Land Owners & Property Developers for appearing for the hearing.
During the hearing process authorities take into consideration the arguments of the both parties. The process takes place within 3-4 months. Once all the arguments are documented the office issues a Deemed Conveyance order within 1 month. The whole process is completed within 6 months as this is a time bound activity.

4. Registration of deemed conveyance:
A deemed conveyance deed is created during this phase and is signed by both societies and developers. If developers do not appear for hearing in the prior stage (Which is the case in deemed conveyance), authorities have the power to sign the deed on behalf of developers.
The society needs to conduct a meeting and appoint 3 members to sign the deed. Post that the deed is submitted to district stamp office for adjudication. If all the members have paid their stamp duty and if there is no balance FSI, the office issues adjudication certificate. (Note – Deed only requires Rs 100 stamp duty). The adjudication certificate needs to be then franked from local bank and resubmitted to registration office.
The registration office then issues notice to land owner/developer to verify if there is any stay order against the deed of conveyance. (Note – The developer can get the stay order only from high court). If there is no stay order the deed of deemed conveyance is registered and then the office issues scanned documents and Index II. This mark end of registration process and the society becomes the owner of the land and structure.

5. Transfer of property:
In this phase a new application is submitted to various departments to make mutation entries in their records. This would make the process complete.

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

By admin|December 8th, 2017|Procedure For Deemed Conveyance In Pune|Comments Off

procedure for deemed conveyance

Stage 1- Preparation for Deemed Conveyance
During this stage the Managing Committee prepares the Members of the Co- Operative Housing Society for Deemed Conveyance.
Stage 2- Documentation for Deemed Conveyance
During this stage the Documents Required for Deemed Conveyance are collected/ organized & the Case is prepared.
Stage 3- Legal Case for Deemed Conveyance
During this stage the case is filed before the Competent Authority & after contesting the same the Order & Certificate upholding the right of Deemed Conveyance of the Society is obtained.
Stage 4- Registration of Deemed Conveyance
During this stage the Deemed Conveyance Deed is Adjudicated, properly Stamped & Registered.
Stage 5- Transfer of Property after Deemed Conveyance
During this stage the Society Name is incorporated in the Land Revenue Records.

Let’s discuss each step in detail:
1. Preparation for Deemed Conveyance:
In this stage the managing committee needs to pass resolution to undergo deemed conveyance. A Special General Meeting is scheduled with prior notification and consent of all the members is obtained to move ahead.
During this SGM the following Resolutions are typically passed.
1. Resolution for going ahead with Deemed Conveyance
2. Resolution for Appointment of Authorized Representative
3. Resolution for Appointment of Legal Consultant for Deemed Conveyance
4. Resolution for Per Member Contributions

2. Documentation for Deemed Conveyance:
This is the most crucial step in obtaining deemed conveyance. It is a very meticulous job and make sure all the documents are lined up within the right format. You would require land revenue records, municipal corporation records, society records, property development records and professional certificates.
All these documents can be obtained from various departments such as Land revenue records from City Survey Office, Tahasildar/ Talathi Office & District Collector Office, municipal corporation records from Building Proposal Department of the Municipal Corporation. Society records and certificates can be obtained from society offices and professionals.
Once all the documents are lined up, society needs to fill in Deemed Conveyance Application- Form VII and attached all the related documents. In case of deemed conveyance, a legal notice is sent to the developer for their consent. In regular conveyance procedures, since the developers or promoters are willingly providing the rights lot of documents can be easily recovered from them.
Once the form is filled up and all documents are annexed it is submitted to the Competent Authority- the District Deputy Registrar of Co- Operative Societies of the particular District.

3. Legal Case for deemed conveyance:
Once the application is submitted to the authorities they issue Deemed Conveyance Scrutiny Report- Form VIII within 1 month. Once the compliance is provided the authorities issues Summons & Newspaper Notices to the Land Owners & Property Developers for appearing for the hearing.
During the hearing process authorities take into consideration the arguments of the both parties. The process takes place within 3-4 months. Once all the arguments are documented the office issues a Deemed Conveyance order within 1 month. The whole process is completed within 6 months as this is a time bound activity.

4. Registration of deemed conveyance:
A deemed conveyance deed is created during this phase and is signed by both societies and developers. If developers do not appear for hearing in the prior stage (Which is the case in deemed conveyance), authorities have the power to sign the deed on behalf of developers.
The society needs to conduct a meeting and appoint 3 members to sign the deed. Post that the deed is submitted to district stamp office for adjudication. If all the members have paid their stamp duty and if there is no balance FSI, the office issues adjudication certificate. (Note – Deed only requires Rs 100 stamp duty). The adjudication certificate needs to be then franked from local bank and resubmitted to registration office.
The registration office then issues notice to land owner/developer to verify if there is any stay order against the deed of conveyance. (Note – The developer can get the stay order only from high court). If there is no stay order the deed of deemed conveyance is registered and then the office issues scanned documents and Index II. This mark end of registration process and the society becomes the owner of the land and structure.

5. Transfer of property:
In this phase a new application is submitted to various departments to make mutation entries in their records. This would make the process complete.

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

By admin|December 8th, 2017|Procedure For Deemed Conveyance, Procedure For Deemed Conveyance In Pune|Comments Off

Frequently asked Questions about Deemed Conveyance

Q.1) What is Conveyance?

Ans. Granting of Lease or Transfer of lease of land by CIDCO to Co-Operative Housing Society or to an Apartment Owners Association or a Company is known as Conveyance.

Q.2). How Conveyance is done?

Ans. For granting of lease by CIDCO, a detailed procedure is available with Estate Department. For transfer of lease by CIDCO, a Tripartite Agreement bearing signatures of Transferor, Transferee and CIDCO Authority has to be executed. The agreement should be properly stamped and registered in Stamp Duty Registrar’s office. Appropriate charges (transfer charges, service charges, water charges etc.) of CIDCO have to be paid. After this procedure, transfer of lease i.e Conveyance is completed.

Q3). What is the Deemed Conveyance?

Ans. In Transfer of Lease by CIDCO, if Transferor does not agree to sign the tripartite agreement, then under Section 11 of MOFA Act, 1963, the Competent Authority may grant unilateral conveyance to the Society / Apartment Owners Association / Company and register that instrument as a Deemed Conveyance after following the due procedure as per Act.

Q4). Is my Society Eligible for Deemed Conveyance?

Ans:. If your Society is registered on land leased by CIDCO in the following categories mentioned below, only then your Society is Eligible for Deemed Conveyance:-

Plot of land is tendered by CIDCO to an individual or company for construction of multiple tenements under MOFA Act, 1963.

Land is leased to PAP’s under 12.5% Scheme for development.

Q5). What is the procedure of Deemed Conveyance?

Ans:. After registration of a Society or an Apartment Owner’s Association or Company as the case may be, the promoter shall execute conveyance within four months of registration. If the promoter fails to execute the conveyance within four months, then that organization may make an application in writing to the Competent Authority with true copies of registered agreement for sale by each individual member of that organization (Society or any other) for issuing a certificate that such organization is entitled to have a unilateral deemed conveyance in their favor and have it registered.

The competent authority i.e. Joint Registrar of Co-Operative Society, CIDCO, after receiving such application will verify documents and after giving the promoters reasonable opportunities of being heard, and on being satisfied that it is a fit case for issuing certificate to the Sub-Registrar under Registration Act, 1908 for unilateral execution of Conveyance Deed conveying right, title and interest of promoter in favor of applicant and then will issue a certificate that it is fit for unilateral conveyance.

After registration of instrument, the deemed conveyance is executed. Lease will be transferred after all the necessary charges of CIDCO are paid.

Q6). What are the documents necessary to accompany an application for deemed conveyance?

Ans. List of documents required for Deemed Conveyance is as follows,

1) Application for Deemed Conveyance in Format VII

2) Society Registration Certificate

3) Chairman / Secretary Sale Agreement Copy

4) Registration Agreement copies by all Members

5) Flat & Shop owners list on society letter head

6) Agreement to Lease with CIDCO

7) Copy of Development Rights / Power of Attorney given to Builder by Villagers / Society / Owner

8) Copy of Occupancy Certificate

9) Copy of C.C.

10) Proposed Deemed Conveyance Agreement copy i.e. Deed of Assignment Deemed Conveyance.

11) Resolution passed by the managing committee for Deemed Conveyance.

12) Architect’s Certificate

13) Title Certificate

14) Plan copy

15) Rs. 2000/- required Court Fee

16) Affidavit

17) Indemnity Bond

18) Verification

19) Bandhapatra

20) Notice given to Builder & Land Owner.

Q 7). What are the Stamp Duty and Registration Charges of Sub Registrar Office?

Ans. When all individual members have paid the Stamp Duty and have registered their documents, then Stamp Duty payable is minimum and maximum registration charges are Rupees 30,000/-. The Actual Stamp Duty Charges will be computed by the adjudicating authority under Registration Act, 1908.

Q 8). After obtaining unilateral Deemed Conveyance certificate from Competent Authority, within how many days the conveyance should be executed?

Ans: There is no time limit for execution of conveyance after obtaining unilateral Deemed Conveyance Certificate.

Q.9). If an individual member of the Society does not buy tenement/s from the promoter and if it is a resale property, then is it necessary to have the entire previous document registered?

Ans: For the purpose of Deemed Conveyance, government has dispensed with the necessity for chain of documents

Q.10). After the Deemed Conveyance, is it necessary to obtain permission of CIDCO for re-development of the building?

Ans. Deemed Conveyance only allows unilateral conveyance of the ‘Lease Hold’ rights of the promoter. Rules and regulation of CIDCO imposed on the promoter remain as it is. Therefore, as per rules of CIDCO, the Society has to take necessary permission for re-development of the building.

Q 11). If Builder (Promoter) is not a member of the Society and holds some flats which are unsold, is it necessary for the Society to pay stamp duty charges regarding these flats ?

Ans. NO. As regard to the unsold flats, Society is not obliged to pay Stamp Duty to the Sub Registrar as per the Registration Act.

Q12). If a Society is formed by the people who had purchased flats from CIDCO authority, then whether Deemed Conveyance is applicable?

Ans. NO. When CIDCO sells a flat to an individual, then CIDCO comes into position of a promoter as per MOFA Act, 1963 and MOFA Act is not applicable to CIDCO. CIDGO has a mechanism of granting conveyance i.e grant of lease of plot to the Society and such a lease has been granted to number of Societies.

Q13). Does the Co-operative Housing Society get a Freehold title of the plot after obtaining the deemed conveyance?

Ans. The Co-operative Housing Society will get only Lease Hold rights of the plot after the deemed conveyance is executed. This is because all the land in Navi Mumbai acquired by GOM and vested with CIDCO for the development purpose is on lease hold basis only.

Q14). What are the benefits of Deemed Conveyance?

Ans. The Co-operative Housing Society which does not have a conveyance i.e lease of the plot, does not have a clear title of the plot on which the Society has constructed a building. Since, the Promoter (Builder) is not ready to appear before the authority for conveyance, the title of the plot is not passed on to the Society.

By executing the deemed conveyance, the Society gets a clear title of the plot. The Society can get the rights for re-construction of the building only when the deemed conveyance is executed.

FOR MORE DETAILS CALL:

VED LEGAL,

Adv. Gajanan Rahate

Mob: 9763040088

E_mail: [email protected]

By admin|December 8th, 2017|Questions about Deemed Conveyance, requently asked Questions about Deemed Conveyance|Comments Off