March 2022 - Page 6 of 7

Documentation for Deemed Conveyance

Documentation is a very important & crucial stage in the Procedure for Deemed Conveyance. It requires absolute focus & meticulous handling to ensure that all the required documents are obtained & organized in an appropriate manner.

The Land Revenue Records of recent origin are obtained by making applications to the respective Government Departments like City Survey Office, Tahasildar/ Talathi Office & District Collector Office. These documents are obtained typically within 8- 10 weeks.

The Municipal Corporation Records are obtained by making application to the Building Proposal Department of the Municipal Corporation. These documents are obtained typically within 8- 10 weeks.

In case it is difficult to obtain the Land Revenue Records & Municipal Corporation Records, Right to Information (RTI) may be invoked.

The Society Records are obtained from Society Office & the Professional Certificates are obtained from Professionals.

Following Documents are required to be prepared.

Deemed Conveyance Application- Form VII
Synopsis of the Case
Vakalatnama
Roznama
Society Special General Body Resolution
Letter of Authority
Affidavit by Authorised Representative
Affidavit by Society Secretary
List of Society Members including their Flat/ Shop Agreement Details

During the Documentation Stage, a Legal Notice is to be sent to the Land Owners & Property developers.

The complete set of the above Documents is to be annexed with the Deemed Conveyance Application- Form VII & to be filed in a neat & tidy manner.

The complete Deemed Conveyance Application- Form VII is to submitted to the Competent Authority- The District Deputy Registrar of Co- Operative Societies of the particular District. The Documentation Stage from beginning to submission of Deemed Conveyance Application- Form VII can be successfully completed within 90 to 120 days.

By admin|March 10th, 2022|DOCUMENTS NEEDED FOR DEEMED CONVEYANCE|Comments Off

DIFFERENCE BETWEEN CONVEYANCE AND DEEMED CONVEYANCE

DIFFERENCE BETWEEN CONVEYANCE AND DEEMED CONVEYANCE

Conveyance –

A generic term for any written document which transfers (conveys) real estate property or real property interests from one party to another.

So by the above definition its very clear that if someone willingly transfers their legal right of the property to another party they would need to create a document which transfers this right. Such a document is called Deed of conveyance.

The important point here is – Willingly. Now in case of housing societies the builder/promoters have to ideally create deed of conveyance and hand over it to housing societies that to within 4 months after project completion. However, due to lack of knowledge many builders do not create such documents. There have been cases where builders have later on denied to create such documents and asked additional money to provide signatures on these documents. You will find all sorts of reasons for not creating the document. This results in issues for societies in future. Therefore, government has amended the Maharashtra Ownership Flats Act, 1963 (MOFA) to make sure if builders run way from such responsibilities the societies do not suffer. This amendment is called Deemed Conveyance. This amendment allows society owners to gain the legal rights of the land even if the builder is not willing to transfer the rights, in front of designated competent authority.

Deemed Conveyance – The Promoter (Builder/ Developer) is legally required to convey the land and the building within 4 months of formation to the society or any legal body of the flat purchasers. However, it has been the experience that many promoters (Builders/Developers) have not conveyed the land and building to the legal bodies. Therefore, government has amended the Maharashtra Ownership Flats Act, 1963 (MOFA) and provided for the deemed conveyance in favor of the legal bodies. Under the provision, deemed conveyance means after the expiry of 4 months of formation of the legal body, the land and building is deemed to have been conveyed to the legal body and to bring the same in the revenue record, Competent Authority has been designated who will hear the parties on the basis of applications received from the aggrieved party and transfers the title in favor of the legal body by passing the necessary order and deemed conveyance certificate and appoint an authorized officer to execute the conveyance deed in favor of the society and execute on behalf of non-co-operative builder or the land owner. Getting the title of land and building by adopting the above procedure is known as deemed conveyance.

By admin|March 10th, 2022|DIFFERENCE BETWEEN CONVEYANCE AND DEEMED CONVEYANCE|Comments Off

CHECKLIST FOR HANDOVER OF SOCIETY FROM BUILDER

CHECKLIST FOR HANDOVER OF SOCIETY FROM BUILDER

During the handover procedure it is important to record and file all details related to the process so that even if problems arise years later, all you need to do is look through this set of records and, accordingly, figure out what to do next.

The builder-residents society handover procedure needs to be structured, but that’s not where the process ends. There are a few things you should remember to check even after the builder hands over your society.

1)Make sure all society related issues are recorded and filed: All defects that you find should be typed as a letter with a signed acknowledgement of the same from the builder, so he is obligated to fix them. All important e-mails should be printed and kept safely for future references.

2)Make sure you make good use of the builder provided warranty period: Builders generally offer a warranty period within which defects are to be pointed out and duly fixed.

3)Form a team of volunteers to check and cross check all formalities are done correctly: Apart from the Management Committee, it is recommended that you bring together a group of residents to volunteer in making sure all necessary documents have been collected and all required formalities have been done. (To learn what documents you need during society handover, read ‘Keep a Check on These When Builder Hands Over Your Housing Society’)

4)Get a community management software to help you keep a permanent track of records: Getting a society management portal will prove significantly helpful in the overall management of your community activities in the long run. (For example: CommonFloor Groups portal. With its many features such as Discussion, Complaints, My Dues, Issue Tracker, Documents repository this portal will serve as a platform to execute and manage community related activities effectively.)

5)Keep originals safely and copies separately with the Committee President: Make sure you keep originals of documents at a safe place such as the Association office and their copies with the Committee President which, when his tenure ends, are passed on to his successor. 6)Make sure you have all documents mentioned on the ‘Handover’ Checklist: Double check that you have all documents mentioned on the handover checklist in ‘Keep a Check on These When Builder Hands Over Your Housing Society’.

By admin|March 9th, 2022|CHECKLIST FOR HANDOVER OF SOCIETY FROM BUILDER|Comments Off

SOCIETY REGISTRATION

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).

In this meeting, necessary resolutions are passed like opening the account in a bank in the name of proposed society and for obtaining permission for reserving the name of the society. It is compulsory for SRA/ MHADA recognized societies, for the first meeting to be video-recorded.

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.

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.

Documents required for Registration

7/12 extract of the land or property card.
Certificate concerning non-agricultural land from the competent authority
The order of applicable or non-applicable of land ceiling Act
Construction layout duly approved by the competent authority
Letter of sanction for starting construction
Certificate regarding completion of construction work
Development Agreement if the land is taken for development
Letter of Power of Attorney of the land
Title search report of the land
The registered agreement of purchases of the flat with necessary stamp duty paid
Architect Certificate regarding construction
List of Members
Scheme of the Society
Application for reserving name
At least ten members are necessary for registration of society. On the other hand, the government has given permission subject to some conditions for the Housing society of fewer than 10 members by exercising powers. For registration proposal, the signature of sixty percent promoters, who participated in the registration proposal is necessary.
If the land is given by the government or undertaking agency of the government then its guarantee letter.
No objection certificates from the Charitable Commissioner if the land is of Trust.
Certificate of the competent authority regarding non-agricultural plot
While registering SRA/SRD and MHADA recognized Co-operative Housing Societies, it is obligatory to fulfill the necessary papers as per instructions are given by the authorities by their circulars in addition to above criterion.
Application for Registering Society (A form)
Table giving information of society (B Form)
Table giving details of the members (C Form)
Statement of Accounts of the Members (D Form)
Notarized Guarantee letter by the Chief Promoter of the society on the stamp Paper of Rs. 100/-
Notarized Guarantee letter by the Builder, Promoter on the Stamp Paper of Rs. 100/-
Affidavit of Members (Affidavit of Minimum 10 Promoters)
Two copies of bye-laws of the Society approved by the Commissioner, Co-operation and Registrar, Co-operative Societies and Maharashtra State, Pune
Proof of the bank balance of the promoter member (deposit of each share of Rs. 500 and admission fee of Rs. 100), after getting permission for reservation in the District Central Co-operative Bank
Challan of Rs. 2500/- deposited in the Government Treasury Registration fee for the Housing Society of the Backward class is Rs. 50/-

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.

By admin|March 9th, 2022|SOCIETY REGISTRATION PROCESS|Comments Off

A COMPLETE GUIDE TO DEEMED CONVEYANCE

A COMPLETE GUIDE TO DEEMED CONVEYANCE

Most of the flat-owners of the newly constructed Societies/apartments do not have their sale deeds or conveyance deeds. Mostly in the newly constructed buildings, the builders provide for forming a housing co-operative society to which they shall transfer their interest in the property. Then the builders form the society but do not transfer the title of the property (read ownership) to the flat-owners or the society till he has transferred all the rights in the building/Societies/apartments. Thus the builders/promoters 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 Societies/apartments owners and to safeguard their interest by executing deemed conveyance of such societies u/s 11(3) of Maharashtra Ownership Flats Act, 1963.

Ved Legal is having enough experience to deal with these kinds of Deemed Conveyance of Co-operative Housing Societies, in and around Mumbai, Pune. Any aggrieved society or apartment holder can get resolution from us in regards of the same.

CONVEYANCE AND ITS SIGNIFICANCE

Conveyance is transfer the title of land and building by promoter/land owner in favour of housing society by execution of Conveyance Deed. As per the provision contemplated in Section 11 of Maharashtra Ownership Flat Act 1963, Conveyance is the right of Co-operative Housing Society and the Duty of the property Developer/Promoter to be executed within 4 months from date of Registration of Co-Operative Society.

After land and Building is conveyed in favour of Co-Operative Society and the title of property is fully and finally recorded in the property card and other revenue records then only the property becomes completely free and marketable.

As per Housing Society Bye-laws the main objective of formation of the society is to obtain conveyance and if conveyance is executed within 4 months from date of registration of society case can be filed against the promoter /landowner of the land to obtain the conveyance as per section 13 of MOFA 1963 failure to give conveyance is an offence and the promoter/landowner of land can be imprisoned upto 3 years or fine or both.

MEANING OF DEEMED CONVEYANCE:

Deemed Conveyance occurs when the builder/land owner or the legal heir refuse to co-operate in handing over conveyance to the Co-operative Society under the Section 11(3) of Maharashtra Ownership Flats Act, 1963. In such case, the housing society has to appear before the District Deputy Registrar, who will hear the case of both parties i.e. the housing society and the builder and would pass the required order of Conveyance. It is a remedial measure obtained by the society against the builder/landowner who does not wish to convey the property since he/she sees a commercial gain out of the property in future. This could include usage of potential FSI for their personal gain.

Deemed Conveyance is final conveyance and the same can be registered. Once the designated Competent Authority has passed the order, there cannot be an appeal against it.

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 & PROVISIONS 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, Case of Deemed Conveyance can be filed against the Builder to obtain the Conveyance before the District Deputy Registrar. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance in favour of cooperative housing society 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 tap the benefits in case the building is later taken up for redevelopment or if the plot has some unutilized floor space index.
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.

CONDITIONS PRECEDENT FOR GETTING A DEEMED CONVEYANCE:

There are certain important conditions which need to be fulfilled to go ahead for deemed conveyance, some of them are:

1. At least 60% of the flats in that scheme should be sold.

2. A Co-operative Society or Association of Persons should have been formed of the flat-owners and at least 3-4 months should have been passed since then.

3. There should be communication between the builder and the society or AOP regarding Deemed Conveyance wherein the builder should have made a promise of completion of conveyance or refused to do the same.

4 . A Resolution must be passed

PROCEDURE FOR FILING AN APPLICATION FOR DEEMED CONVEYANCE:

After the above mentioned conditions are fulfilled, the following steps shall be taken:

Write a letter /email to builder/ promoter requesting him to provide a draft of the SALE DEED/ CONVEYANCE DEED or providing the draft to him and requesting him to sign the same.

If the Builder rejects or postpones the same, send him a legal notice through an advocate requesting for the same.
Even then if the builder refuses, File an application with the Registrar of Co-operative Societies together with all the relevant documents and 2,000 Rs. Court stamp fees.
Self-attestation all the copies enclosed (by the society)
The Competent Authority will assess the application and if any documents are missing he will ask the applicant to correct the mistake within fifteen days.
Thereafter, notice would be sent to the promoter and the land owners.
After receipt of the notice by the land owners and the promoters, the authority will hear both parties in the first hearing and ask both parties to produce further evidences in next hearing.
Thereafter, second hearing would be held and if the builder or landowners do not attend both first and second hearing then the authority will pass an exparte order.
Thereafter, the third and final hearing would be held and the authority would be held and order would be passed unless a legal question is raised.
Normally the whole process is completed within a period of 6 months.

DOCUMENTS REQUIRED:

Further, the application required to be made with the Registrar shall be accompanied by copies of certain 20 odd documents which the society shall have to prepare or get prepared.

The papers required for doing Deemed Conveyance are as follows:

Application Form 7 to the District Deputy Registrar, Co-operative Societies, affixing a court fee stamp of Rs. 2,000 on the application
Affidavit made before the Notary or Executive Magistrate True copy of the Society Registration Certificate
Stamp duty paid and registered agreement copy of 1 individual flats/ shops with Builder/Developer
List of members in prescribed format
Index-II for each member as issued by the Sub-Registrar of Assurance
Copy of the Development Agreement between land owner and builder
Copy of the Power of Attorney between land owner and builder
Copy of the legal notice issued to the original owner or developer for doing conveyance
Details of corresponding address telephone number etc. of the original owner or developer
Draft conveyance deed/ Declaration proposed to be executed in favour of the applicant

Documents to be obtained from City Survey Office, for submission:

City (CTS) Survey Plan
Property Registration Card or
7/12 extract of the Land
Village form 6 (Mutation entries from Revenue Office)

Documents to be obtained from the Collector’s Office, for submission:

Copy of the Non-Agricultural Order
Certificate of the exclusion from Land Ceiling Act (ULC) Certificate

Documents to be obtained from the concerned Municipal Authority Office, for submission:

Copy of the approved plan
IOD
Commencement Certificate
Building Completion Certificate
Occupation Certificate (not compulsory)
Property taxes paid
Location plan of the building

Documents to be obtained from other professionals, for submission:

Search Report of the land issued by the Solicitor/Advocate
Title Certificate of the Property issued by the Solicitor/Advocate (Search by minimum for last 30 years)
Land Measurement Map/ Architect’s Certificate (layout plan of the plot)
Certified copy from Panel Architect about the utilization of full FSI or FSI if any left in respect of the said property /Plot.

After, the Application is heard by the Registrar he may grant an order for deemed conveyance which shall then be produced before a court for execution and hence the conveyance may be done by a court order.

PROCEDURE:

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.

Preparation for Deemed Conveyance:

This is a very important stage where the Managing Committee prepares the Members of Co- Operative Housing Society for the Deemed Conveyance.

The Managing Committee convenes a Special General Meeting (SGM) of the Society by giving suitable notice highlighting the agenda.

The Managing Committee places before the SGM the difficulties faced for obtaining the Conveyance from the Land Owners/ Property Developers. The Managing Committee explains the effects of non- availability of Conveyance to the Members. The Managing Committee explains the Procedure & Benefits of Deemed Conveyance to the Members.

During this SGM the following Resolutions are typically passed.

Resolution for going ahead with Deemed Conveyance
Resolution for Appointment of Authorized Representative
Resolution for Appointment of Legal Consultant for Deemed Conveyance
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. GajananRahate

Mob: 9763040088

E_mail: [email protected]

By admin|March 9th, 2022|A COMPLETE GUIDE OF DEEMED CONVEYANCE IN PUNE|Comments Off

ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY

ADVOCATES FOR REGISTRATION OF 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: 9763040088E_mail: [email protected]

By admin|March 4th, 2022|ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY|Comments Off

DOCUMENTS REQUIRED FOR DEEMED CONVEYANCE OF SOCIETY

DOCUMENTS REQUIRED FOR DEEMED CONVEYANCE OF SOCIETY

Further, the application required to be made with the Registrar shall be accompanied by copies of certain 20 odd documents which the society shall have to prepare or get prepared.

The papers required for doing Deemed Conveyance are as follows:

Application Form 7 to the District Deputy Registrar, Co-operative Societies, affixing a court fee stamp of Rs. 2,000 on the application
Affidavit made before the Notary or Executive Magistrate True copy of the Society Registration Certificate
Stamp duty paid and registered agreement copy of 1 individual flats/ shops with Builder/Developer
List of members in prescribed format
Index-II for each member as issued by the Sub-Registrar of Assurance
Copy of the Development Agreement between land owner and builder
Copy of the Power of Attorney between land owner and builder
Copy of the legal notice issued to the original owner or developer for doing conveyance
Details of corresponding address telephone number etc. of the original owner or developer
Draft conveyance deed/ Declaration proposed to be executed in favour of the applicant

Documents to be obtained from City Survey Office, for submission:

City (CTS) Survey Plan
Property Registration Card or
7/12 extract of the Land
Village form 6 (Mutation entries from Revenue Office)

Documents to be obtained from the Collector’s Office, for submission:

Copy of the Non-Agricultural Order
Certificate of the exclusion from Land Ceiling Act (ULC) Certificate

Documents to be obtained from the concerned Municipal Authority Office, for submission:

Copy of the approved plan
IOD
Commencement Certificate
Building Completion Certificate
Occupation Certificate (not compulsory)
Property taxes paid
Location plan of the building

Documents to be obtained from other professionals, for submission:

Search Report of the land issued by the Solicitor/Advocate
Title Certificate of the Property issued by the Solicitor/Advocate (Search by minimum for last 30 years)
Land Measurement Map/ Architect’s Certificate (layout plan of the plot)

Certified copy from Panel Architect about the utilization of full FSI or FSI if any left in respect of the said property /Plot.

By admin|March 4th, 2022|DOCUMENTS NEEDED FOR DEEMED CONVEYANCE|Comments Off

Laws Applicable to Co-Operative Society

The Cooperative Societies Act, 1912 expanded the sphere of cooperation between its members and provided for supervision by central organization. A cooperative society, which has its object the promotion of the economic interests of its members in accordance with the co-operative principles, may be registered with limited or unlimited liability by filing application to the registering authority with requisite documents to be submitted by them

A Co-operative Society has to conduct itself as per the following listed below:

Co-operative Societies Act under which the same is registered whether it be under state Act or Central Act.
Co-operative Societies rules made there under whether it be central or state rules
Bye-laws approved by the registrar at the time of registration and amendments made from time to time and approved by the registrar, these bye-laws have to be formed by the concerned members themselves and present it to the registration authority for its approval.
Notification and Orders by the concerned Government

The following steps have to be followed while forming a Co-operative society, they are

Step 1: Ten Individuals together who are desirous of forming a Society

To form a society, law mandates that 10 members minimum must show intention to be part of the society having same aim and objective to be achieved through the society for their mutual benefit and thereby be desirous to be part of it.

Step 2: Provisional Committee to select Chief Promoter

Once a group of individuals have a desire to form a society the next step should be there must be a provisional committee of which everyone is part of and all of them should by mutual consent or by majority whichever their prefer must choose a person who will be a chief promoter of the society which is going to be formed by them.

Step 3: A Name for the Society has to be selected

Thereafter once a chief promoter is selected by set of individuals among them, they have to select a name for the co-operative society which they wish to form

Step 4: Application has to be made to the Registration Authority

Once the name of the society is selected by the members then they have to make a application to the registration authority stating that they have a intention to form a society and the name of the society has to be given to the authority for its approval and registering authority has to confirm that name is in conformity with laws and issue a confirmation certificate to the members. Then when the members get their name approval from the authority it is valid for 3 months from the date of approval.

Step 5: entrance fees and share capital

Thereafter once name approval comes from the concerned authority, the entrance fee and the share capital must be collected from the concerned prospective members to meet the statutory requirements under law and it can be prescribed by the members themselves or society act mandates certain fees to be paid by them.

Step 6: Bank Account

Thereafter once the prescribed fee and share capital is collect from the prospective members, then as per the directions of the registering authority promoter has to open a bank account in the name of the society and deposit the said fees and share capital in that account and a certificate has to be obtained from the bank to that effect

Step 7: Application for registration

Once the bank formalities are completed then the promoter has to apply for the society formation to the registration authority and it has to be accompanied with set of documents, they are

Form No. A in quadruplicate signed by 90% of the promoter members
1. List of promoter members
2. Bank Certificate
3. Detailed explanation of working of the society.
4. Four copies of proposed bye-laws of the society.
5. Proof of payment of registration charges.
6. Other documents such as affidavits, indemnity bonds, any documents specified by the Registrar also have to be submitted.

All these documents have to be submitted at the time of applying for registration of the society to the registering authority and the authority after it is satisfied with the documents submitted to it has to apply its mind to whether or not to register the said society.

Step 8: Registrar has to acknowledge

After the submission of the said documents has mentioned in step 7, the registrar of that municipal ward has to enter the particulars in the book called the “register of Application” which is generally specified in form B and give it a serial number to the application. Thereafter the registrar has to issue a receipt to that effect and give it to prospective members to know the status of the application when it is pending.

Then the registrar after perusal of the records submitted to him/her has to make a decision whether has to issue a certificate of registration or not and if there are any discrepancies noticed then he/she has to inform the members of the same and get it rectified if any.

Step 9: Registration

Last step is that the registering authority after being satisfied with the documents meeting the legal requirements will notify the registration of the society in the official gazette mentioned by the state or central government and should issue the registration certificate of the society and give it to the members of the society.

Conclusion

In India, Co-operative Societies were regarded as ideal instruments to motivate the people to come together and help themselves in the process of eliminating the unscrupulous middlemen making a huge profit at the expense of the society.

The main guiding factor if an individual or group of individuals want to form a society must be whether all the concerned members have common goal to achieve or not, it is important factor because only when they share common desire or intention then only society is desirable otherwise the whole purpose of forming a society will be defeated.

Societies like any other business structure come with certain advantages and disadvantages, they are:

Advantages

Cooperative stores supply quality goods unlike other shops wherein adulterated foods maybe given to its consumers and thus saved them from adulteration and other malpractices.
As consumers or members of the society are the owners and managers of such stores, genuine requirements of the majority of consumers can be met. In other words, goods required by a majority of the customers or members of the society are always dealt by such stores.
Cooperative societies are an important form of democratic business enterprise because ownership is not vested in one person completely so as a result, no single group can secure control over the organization.

Disadvantages

It only caters to the needs of small and medium-income groups so when there are large group with higher economic interest then it is preferable to choose another business model.
There is much dependence on the honesty, integrity and loyalty of members and workers and once there are trust issues between the members it is hard to transact business thereafter.
It is limited to certain objectives hence profits are minimal.

Management of society usually rests in the hands of people with less managerial experience due to which society will suffer and many do not invest in hiring professionals to handle the society due to lack of funds or interest so henceforth growth of the society maybe put to stake by its own members.

By admin|March 3rd, 2022|Laws Applicable to Co-Operative Society|Comments Off

WHY CO-OPERATIVE HOUSING SOCIETY?

While booking a flat – you cannot focus only on owning your own home. You have to focus on how you can live a comfortable life in your own home – in your housing scheme. The best & the only way to enjoy a comfortable life in your own flat is to form a Co-Operative Housing Society and manage it well.

while booking a flat & registering flat agreement – first time home buyers give least importance to whether the builder is going to form a Co-Operative Housing Society or an Association of Apartments. Including how much the builder is charging to form it.

However, after flat possession, some flat buyers understand the benefits of a Co-Operative Housing Society and to correct their mistake – start fighting with the builders.

Instead of that – before booking a flat – if you confirm that the builder is going to form a Co-Operative Housing Society – you can live a comfortable life & earn good property appreciation if you manage your society.well.

Co-Operative Housing Society is better than Association of Apartments for 2 reasons –

1) Ownership

2) Management

Housing scheme is a collective living – community living – living in a group.

If the ownership of the entire housing scheme – all buildings & the plot of land – is with a community – means with a Co-Operative Housing Society – maintaining society & developing community life becomes essential & easy. That’s why Maharashtra Government has passed cooperative law & developed entire system to support smooth functioning of Co-Operative Housing Societies.

Including a special court.

Against this – in an Association of Apartments – the ownership of a flat & equal share of a plot – is with individual flat buyers. This is inorganic &unnatural.

Along with legal system, there are service providers who specialize in maintaining the property and managing accounts of a Co-operative Housing Society.

By admin|March 3rd, 2022|WHY CO-OPERATIVE HOUSING SOCIETY?|Comments Off

CONVEYANCE DEED

CONVEYANCE DEED

In case of housing societies the builder/promoters have to ideally create deed of conveyance and hand over it to housing societies that to within 4 months after project completion. However, due to lack of knowledge many builders do not create such documents. There have been cases where builders have later on denied to create such documents and asked additional money to provide signatures on these documents. You will find all sorts of reasons for not creating the document. This results in issues for societies in future. Therefore, government has amended the Maharashtra Ownership Flats Act, 1963 (MOFA) to make sure if builders run way from such responsibilities, the societies do not suffer. This amendment is called “Deemed Conveyance”. This amendment allows society owners to gain the legal rights of the land even if the builder is not willing to transfer the rights, in front of designated competent authority.

A valid conveyance deed must contain the following:

1. The actual demarcation of the property.

2. Other rights annexed to the property and its use.

3. The full chain of titles, that is, all legal rights up until the present seller.

4. The method of delivery of the property to the buyer.

5. A memo of the consideration, stating how it has been received.

6. Any further applicable terms and conditions for the full transfer of ownership rights.

Important points to consider, to ensure smooth purchase/sale of a property:

The seller is required to certify that the property is free of any legal encumbrance.

If a loan was taken against the property in question, then, the mortgage must be cleared before the deed is signed. Buyers have the option of having this checked at the local sub-registrar’s office.

The conveyance deed should state the exact date on which the property will be handed over to the buyer.

Within four months of the execution of the deed, all the original documents related to the sale of the property, need to be produced for registration before the local registrar.

The deed is required to be signed by at least two witnesses.

By admin|March 3rd, 2022|Conveyance Deed - A Binding Contract|Comments Off

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