Ved Legal - 2023 April

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: Common Floor 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|April 18th, 2023|CHECKLIST FOR HANDOVER OF SOCIETY FROM BUILDER|Comments Off

REQUIRE DOCUMENTS FOR DEEMED CONVEYANCE

LIST OF REQUIRE DOCUMENTS FOR DEEMED CONVEYANCE:-

Stamp duty proof Index-II/Agreements
Layout plan (Blue Prints of all plans)
Completion Certificate
Commencement Certificate
N.A. Order
Latest 7/12 Extract/Property Card
Development Agreement & Power of Attorney
Society’s GB Resolution for Deemed Conveyance/Conveyance Deed
Notice to Builder for Conveyance Deed
Society Registration Certificate
Search Title Report
Sample Agreement Between Builder & Flat Purchaser

By admin|April 18th, 2023|REQUIRE DOCUMENTS FOR DEEMED CONVEYANCE|Comments Off

Advocate for property transfer

Advocate for property transfer

DUE DILIGENCE TO BE DONE WHILE PURCHASING A PROPERTY

First comes in the checklist is the Zone.Check it whether the property comes into the “R” OR “NON-AGRICULTURE” zone because if the the property is in non residential or non agriculture zone like green zone etc.you may not get approvals from authorities like MC for commencement of construction or if you get permission for construction in other zone, than R zone, the F.S.I granted for other zones is comparatively less.
The second must thing to do is “TITLE SEARCH”.
Title search is must to do, but not enough, to ensure the property is without encumbrances,then what?
Then the most important thing to be done after the title search is PUBLIC NOTICE.Public notice is meant for inviting any objections or claims regarding the property,this will make you aware if the land owner is playing double and has sold the same plot to somebody else also and if within the desired period no objections/claims are raised, you can move on.
Next if the Landowner is handing over immediate possession go for a registered sale deed.
If the Landowner has promised, future possession, its better to go with agreement to sale and the consideration to be paid in part and the payment should be done through the negotiable instrument like Cheque/D.D or bank transfer NEFT/RTGS .In no case you should go for Cash transaction, There are likely chances of deciet or fraud in Cash transaction.
After a registered sale deed get the mutation entry done.see that your name has been arrived on the property card.
Above are the general precautions to be taken.

FOR MORE DETAILS DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|April 17th, 2023|Advocate for property transfer in Thane|Comments Off

PROCEDURE OF DEEMED CONVEYANCE

PROCEDURE OF 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 by approving resolution in the

GBM if Builder/Promoter fails to convey the land and building within prescribed

period.

Stage 2- Documentation for Deemed Conveyance

During this stage, once the Documents required for Deemed Conveyance get

collected/ organized & thereafter the Case/Application get prepared and submitted

to Dist. Dy. Registrar Office through Legal Representative/Advocate.

Stage 3- Legal Case for Deemed Conveyance

During this stage, once the case is filed before the Competent Authority i.e. DDR,

hearings get started for both the parties to the application i.e. Applicant &

Respondent by issuing summons/notices. And after contesting the said matter, the

Order & Certificate of Deemed Conveyance upholding the right of the Society will be

obtained.

Stage 4- Adjudication of Deemed Conveyance

During this stage, the Deemed Conveyance get Adjudicated by the office of JDR,

Thane, with proper Stamp Duty, Registration fee etc…

Stage 5- Registration of Deemed Conveyance

During this stage, the adjudicated & executed draft of Deemed Conveyance will get

registered in the office of Sub-Registrar.

Thanks

Ved Legal

By admin|April 17th, 2023|PROCEDURE FOR DEEMED CONVEYANCE IN THANE|Comments Off

REGISTRATION OF DEEMED CONVEYANCE

On receipt of the Deemed Conveyance Order, the Deemed Conveyance between the Competent Authority & the Society is prepared. The Competent Authority appears in the Deed on behalf of the defaulting Land Owners & Property Developers.

The Deemed Conveyance is submitted to the Office of Competent Authority for Approval & their Signature with Authority Stamp & Seal.

The Special General Body of the Society is called to approve the Deemed Conveyance & to nominate 3 Members of the Society to sign the instruments.

The Deemed Conveyance is executed by the signature of the Competent Authority & the signatures of the 3 nominated Members of the Society.

On execution of the Deemed Conveyance, it is forwarded to the District Stamp Office for Adjudication. If all the Members of the Society have paid the Stamp Duty on their respective Flat/ Shop Agreements & there is no balance FSI, the Deemed Conveyance attracts only Rs. 100/- Stamp Duty. The Stamp Office issues the Adjudication Certificate.

On receipt of the Adjudication Certificate, the Society pays the required Stamp Duty & gets the Deemed Conveyance Franked from local Bank.

After Franking of the Deemed Conveyance, the same is submitted to the Registration Office for Registration. The Registration Office issues a notice to the Land Owners & Property Developers to verify whether they have received any Stay Order from Proper Court against the Deemed Conveyance Order.

The Proper Court for issuing the Stay Order against the Deemed Conveyance Order is High Court. It is very difficult for the Land Owners & Property Developers to obtain the Stay Order from High Court against the Deemed Conveyance Order.

If there is no Stay Order received, the Registration Office Registers the Deemed Conveyance. The Competent Authority is exempted from appearing for the Registration & hence the 3 Members nominated by the Society only appear for Registration.

After Registration of the Deemed Conveyance, the Registration Office issues the Scanned Document & Index II typically within 15 days.

The complete Procedure of Registration of Deemed Conveyance is typically completed within 3- 4 Months. On receipt of the Index II, the Registration Process of the Deemed Conveyance is successfully completed & the Society becomes the owner of the Land & Structure.

By admin|April 17th, 2023|Registration of Deemed Conveyance|Comments Off

What is Deemed Conveyance?

What is 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|April 17th, 2023|What is Deemed Conveyance?|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|April 17th, 2023|SOCIETY REGISTRATION|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 Ownership Flat 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|April 14th, 2023|ADVOCATES FOR REGISTRATION OF HOUSING SOCIETY IN PUNE|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|April 12th, 2023|Laws Applicable to Co-Operative Society|Comments Off

COMPARISON BETWEEN CO-OPERATIVE HOUSING SOCIETY AND CONDOMINIUM

Act – Co-operative Society, which is regulated by the Maharashtra Co-operative Societies Act, 1960.

Act – An alternative to a Co-operative Housing Society was introduced by the Maharashtra Apartment Ownership Act, 1970. Condominium is a Building or Complex of Buildings containing a number of individually owned Apartments or houses. Ownership of common areas is shared by all.

Requirement for formation – Generally require minimum 10 members/Flats to form CHS.

Requirement for formation– In Condominium, even one person who owns the entire building can form a Condominium provided there are at least five Apartments in the building.

Conveyance Deed of the land – The title of the land and the building is transferred and conveyed to the Society, which becomes the owner thereof.

Conveyance Deed of the land – The title of each Apartment rests with the Apartment owner, who also has a proportionate undivided interest in the land on which the building stands the common areas and facilities of the building.

Share Certificate – A Society issues certain shares to its members as per the Bylaws and the Share Certificate becomes an important title deed, since the allotment of the premises are related thereto.

Share Certificate – This is not so in a Condominium of Apartments/Buildings.

Management Committee – The affairs of the Society are managed by the Managing Committee which is elected by the members of the Society. The Managing Committee elects a Chairman, Secretary, and a Treasurer. Election conducted by State Co-op Election Authority(SCEA)

Management Committee – Similarly, the affairs of a Condominium are managed by the Board of Managers who is elected by the members of the Apartment Owners Association. The Board also elects a President, Vice-President, Secretary and a Treasurer.

Share Charges & Flat Transfer fee – Under the Model Bylaws, a Society can charge only Rs. 500/- as Transfer Fee with a maximum of Rs 25,000/- as a premium.

Share Charges & Flat Transfer fee – The Bylaws can be more flexible and the amount of Transfer Fee can be provided therein.

Renting Out Flats – In a Society, permission of Managing Committee including ‘Police Verification’ & Register L&L is required.

Renting Out Flats – In a Condominium, the owner can give his Apartment on lease or leave and license basis without the approval of the Board of Managers

Voting Rights – Every member has one vote, irrespective of the area of their premises.

Voting Rights – Every Apartment owner has a voting right in proportion to the value of his premises which is generally as per the area of the Apartment owned by him and which is defined while forming the Condominium.

Dispute Resolution – In a Society, disputes are generally referred to the Registrar appointed under the Act or to a Co-operative Court, depending on the nature of the dispute.

Dispute Resolution – The Court having jurisdiction over the area in which the Condominium is located, hears the disputes.

Membership cease & Expel – A Society can expel its member under certain extreme circumstances.

Membership cease & Expel – In case of a Condominium, there is no such provision. However, if an Apartment owner fails to comply with the Bylaws or the Rules and Regulations, either damages or injunctive relief or both can be claimed against him.

Nomination – In a Society, a member can nominate a person in whose favour shares of the Society should be transferred upon the member’s death.

Nomination – No such facility is available in a Condominium. An Apartment can be transferred to a person to whom the Apartment owner bequeaths the same by his will or to the legal representative of the Apartment owner’s estate.

Bye Laws of society – Bye-laws and Rules of ‘Society’ are binding on all the residents and nobody can act as per his/her whims. Hence, if the Society decides to ban any objectionable commercial activities in the flats such as noise-making music classes or using the flat for catering or courier activities etc or not to rent out to bachelors etc, then all the residents have to abide by it

Bye Laws of society – But if it is an Apartment, then owners can violate the Apartment Rules and the Apartment Body can just file a case in the Civil Court.

Redevelopment – When the building contemplates redevelopment after 25-30 years, the Society’s decision will be final and hence the Society members will have negotiation power with the builder at that time.Redevelopment – But if in case of an Apartment, the consent of every Apartment-owner is required and hence it goes into an endless delay due to lack of a common decision acceptable to everybody.

By admin|April 12th, 2023|COMPARISON BETWEN CO-OPERATIVE HOUSING SOCIETY AND CONDOMINIUM|Comments Off

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