Ved Legal - 2024 January

Advocate for Agreement and Sale Deed

Advocate for Agreement and Sale Deed

Want to purchase a Flat? If Yes, Please Be Careful so you may not fall prey to the frivilious offers by decietfull builders and developers.

While purchasing the Flat Property you should take the following care/ due diligence.

Prefer a ready to move property rather an under construction property.If property is ready to move see that if the project has any tie ups with nationalised banks, if so the project is safe to invest because bank offers assitance to a project or scheme, after due diligence.Or else first thing to do is,to get the title search done.If title is clear than go for bank loan, because banks while granting loan takes due diligence while lending financial assistance. This again will be a safety check for verification and authentication of builder as well as project, if there are any existing encumbrances on the said property.If the bank is ready to sanction loan means there is absence of encumbrances like mortgage or lease.
The next comes in the checklist, is verification with RERA.whether the builder/ scheme is registered with RERA, if so, confirm that he has not been blacklisted by the Authority.
Another thing to take into account while considering ready to move property is whether the scheme has been assigned completion certificate and occupancy certificate which validates, that it is ready to move property.
If it is under construction property before giving the token amount, check whether builder has got commencement certificate and other approvals from the public authorities like MSEB,MUNICIPAL CORPORATION or N.O.C from environmental dept.as well as fire and safety department.

FOR MORE QUERIES PLEASE DO CONNECT WITH VEDLEGAL

MAIL ID – [email protected]

CONTACT- +919763040088

By admin|January 24th, 2024|Advocate for Agreement and Sale Deed in Jalagaon|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|January 8th, 2024|Registration of Deemed Conveyance 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|January 8th, 2024|PROCEDURE OF DEEMED CONVEYANCE|Comments Off

SOCIETY FORMATION

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|January 8th, 2024|Society Formation Registration in Pune|Comments Off

COMPARISON BETWEEN A CONDOMINIUM AND A SOCIETY

Though the condominium is more than a forty year old ownership concept for buildings in Mumbai, it is the cooperative society model which has been the most popular so far. However, in recent times, the concept of a condominium is slowly gaining momentum. Buyers who purchase premises on an ‘ownership’ basis require to come together to manage the building and for that purpose, one of the ways is to form a cooperative society, which is governed by the Maharashtra Cooperative Societies Act, 1960.

An alternative to a cooperative society was introduced by the Maharashtra Apartment Ownership Act, 1970, which provides for the formation of a condominium. The buyers of premises in a condominium are called apartment owners who form an association known as an ‘association of apartment owners’, in case of both, residential as well as non-residential premises.

Although the basic purpose of both the models is similar, there are many differences between a society and condominium, some of which are:

FORMATION: To form a society, generally 10 persons, each from a different family who reside in the area of operation of the society (within the same city) and who have taken premises in the building, would be required. However, even one person who owns the entire building can form a condominium provided there are at least five apartments in the building.

OWNERSHIP: In the case of a society, the title of the land and the building is conveyed to the society, which becomes the owner thereof. Persons who have purchased premises are made members of the society and are allotted the particular premises. In the case of a condominium, 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.

BY-LAWS: A society adopts the model bylaws in which little can be changed. While adopting the bylaws in a condominium, suitable changes can be made, so long as the provisions of the Act are not contravened.

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. This is not so in a condominium.

MANAGEMENT: 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. Similarly, the affairs of a condominium are managed by the board of managers, who are elected by the members of the apartment owners association. The board also elects a president, vice-president, secretary and a treasurer.

TRANSFER FEES: Under the model bylaws, a society can charge only Rs 500 as transfer fees and a maximum of Rs 25,000 as a premium. In case of a condominium, the bylaws can be more flexible and the amount of transfer fees can be provided therein.

PERMISSION TO LET: In a condominium, the owner can give his apartment on lease or leave and license basis without the approval of the board of managers, while in a society, permission is required.

VOTING RIGHTS: In a society, every member has one vote, irrespective of the area of his premises. In a condominium, 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.

DISPUTES: In a society, disputes are generally referred to the registrar appointed under the Act or to a cooperative court, depending on the nature of the dispute. In the case of a condominium, the court having jurisdiction over the area in which the condominium is located, hears the disputes.

EXPULSION: A society can expel its member under certain extreme circumstances. 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. 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

By admin|January 2nd, 2024|COMPARISON BETWEEN A CONDOMINIUM AND A SOCIETY|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: 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|January 2nd, 2024|CHECKLIST FOR HANDOVER OF SOCIETY FROM BUILDER|Comments Off

SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER

SOCIETY FORMATION AND HANDOVER PROCESS BY BUILDER

The Registration process and requirements are governed by Maharashtra State Co-operative Society Act 1960.

To Register Co-op. Housing Society, Minimum 10 member are required.

Less than 10 members Societies are also Registered as per M. S. Govt. Ordinance No. 1094 and 277/14 Dated 10/03/1995. But such member’s flats should be less than 700 Sq.ft. Carpet Area

As per M.S. Govt. Notification dated 24/07/1992 conditions for registrations are liberalized.

51 % of the Promoters are must be ready to form Co-op. Housing Society.

If flats are sold as per the Maharashtra Ownership Flats Act,1963 [MOFA] then it is the duty of the Builder / Developer to form society and hand over the Account + Documents to Provisional Working Committee [PWC] In this case the builder become CP and other flat owners become Promoters for Registration purpose. This society registers under Co-operation.

When the builder is not registering society due to some reasons or not support to registered society then flat purchasers can apply for registration of Co-operative Housing Society under Non Co-operation. In this case one of the flat owners should be elected as CP for Registration purpose. In this case some more time is taken to registered society as registrar is issue notice to builder for Non Co-operation. If no response then ex-party decision are taken for registration of the society. Now all the case of Non Co-operation Registration decisions is given by District Deputy Registrar [DDR] then society is registered

All flat owners should hold meeting and elect Promoter. All power for Registrations, documentation etc. should be given to promoter. The resolution should be passed and must be sign by all flat owners who wish to become member of the Co-operative Housing Society

Appoint Consultant / Legal Advocate for registration and ask him to comply all requirements. All members together also can do work for registration.

For registration of Co-op. Hsg. Society the following documents should be filed to Dy. Registrar / Asst. Registrar of Co-operative Department area concern in order as follow:

Applications for Name to be reserved for Proposed Society’s
Form of resolution electing a CP and Promoter and giving them authority for doing certain acts on behalf of the proposed society
Notice to Builder
Application form “A”
Information in Annexure ” A ” ” B ” ” C ”
Bye-Law of the Society 2 copies
Details of Accounts Annexure ” D ”
Bank Balance Certificate in Original
Namuna 6
Agreement of 1 Flat
Advocate Search Report [Title Certificate]
Society’s Building Plan
Lay Out Plan
Sanction Plan from Authority
Commencement Certificate
Completion Certificate
Promoter’s Guarantee in form ” X ” On Rs. 100/- Stamp paper & notarized
Guarantee in form” Y ” On Rs. 100/- Stamp paper & notarized
Guarantee in form ” Z ” On Rs. 100/- Stamp paper & notarized
Latest 7/12 or City Survey Revenue Record of Land [not more than 1 month old]
Promoters Affidavit On Rs. 100/- Stamp paper & notarized
Indemnity Bond On Rs. 500/- Stamp paper & notarized
NA Order
ULC Order
Development Agreement and Power of Attorney
List of Members in the society
Scheme/Yojana Form
Registration Fee Challan for Rs.2500
Builder Non Co-operation form Z On Rs. 100/- Stamp paper & notarized if required 1 copy

On submission of above document the Dy./Asst. Registrar will go through the papers And document. If found OK he will make order for issue of Registration Certificate.

If any deficiencies are found then the applicant will be inform accordingly and documents will be corrected wherever necessary. When all papers are in order, he will issue order for issue of Registration Certificate.

Registration Certificate is issued with covering letter and Officer’s name is mentioned who will attend First General Meeting. Normally the Officer concern is not attending meeting. In absence, all members has to hold meeting and has to elect Provisional Working Committee [PWC] whose working period will be ONE Year.

After electing PWC the member of PWC has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of Officer’s whose name is in Covering latter to Dy./Asst. Registrar. All Rule and Regulations, resolution and minutes which is written in AGM Register must be sign by Officer’s name is mentioned in covering letter it is the most important step.[Many society forget this which create problem latter] After First Annual General Meeting PWC is replaced with new Working Committee [WC] whose working period will be FIVE Year. The new WC election can conduct before PWC time over with proper election process. WC also has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of election officer to Dy./Asst. Registrar.

When application for Name reservation of Society has given, the Dy./Asst. Registrar give instruction to Open Bank Account in Dist. Central Co-op. Bank The Account has to opened in the name of CP And deposit all money of Share Capital Contribution [per member Share Money is Rs. 50*10 = Rs. 500 i.e. 10 share of 50 rupees each] and Member ship Fees of Rs. 100/- i.e. Per member you have to deposit Rs. 600/- in bank and obtain Bank Balance Certificate and submitted it to Dy./Asst. Registrar. After First Annual General Body Meeting the Bank Account has to transfer in the name of Society.For bank Account operation Chairman sign must and either Secretary and Treasurer. Expenditure has to be made as per provision of Bye-Laws. Bank and Cash Transaction [Collection and Payment are handled by Treasure when Billing Clerk or Accountant are not been kept.

By admin|January 2nd, 2024|SOCIETY FORMATION AND HANDOVER PROCESS ADVOCATES|Comments Off

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|January 2nd, 2024|DEEMED CONVEYANCE IN THANE|Comments Off

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