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PROCEDURE FOR FILING AN APPLICATION FOR DEEMED CONVEYANCE:

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.

By admin|October 30th, 2020|PROCEDURE FOR FILING AN APPLICATION FOR DEEMED CONVEYANCE:|Comments Off

LAWYERS FOR REGISTRATION OF HOUSING SOCIETY IN PUNE

LAWYERS FOR REGISTRATION OF HOUSING SOCIETY IN PUNE:

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

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

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

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

Our specialized services include:

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

FOR MORE DETAILS CALL:

VED LEGAL,

Adv. GajananRahate

Mob: 9763040088E_mail: [email protected]

By admin|October 29th, 2020|LAWYERS FOR REGISTRATION OF HOUSING SOCIETY IN PUNE:|Comments Off

Advantages & Disadvantages of Conveyance

Advantages & Disadvantages 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.

By admin|October 29th, 2020|Advantages & Disadvantages of Conveyance Deed/Deemed Conveyance|Comments Off

Documents required for registration of society

Documents required For registration of Society

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

By admin|October 28th, 2020|Documents required for Housing Society Registration|Comments Off

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|October 28th, 2020|Documentation for Deemed Conveyance|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|October 27th, 2020|COMPARISON BETWEEN A CONDOMINIUM AND A CO-OPERATIVE SOCIETY|Comments Off

CONVEYANCE DEED – AN IMPORTANT DOCUMENT

A deed is a written document or an instrument that is sealed, signed and delivered by all parties to the contract (buyer and seller). It is a contractual document that includes legally valid terms, and is enforceable in a court of law. It is mandatory that a deed should be in writing, and that both parties involved must sign the document.

There are different kinds of deeds, such as lease deeds, partnership deeds, trust deeds, gift deeds etc.

A conveyance deed is essentially one wherein the seller transfers all rights to legally own, keep and enjoy a particular asset, immovable or movable. In this case the assets under consideration are immovable, namely property.

On signing a conveyance deed, the original owner transfers all legal rights over the property in question to the buyer, against a valid consideration (usually monetary). This consideration, however, is irrelevant in the case of gift deeds, as they are based on fraternal or familial bonds.

A ‘conveyance deed’ or ‘sale deed’ implies that the seller signs a document stating that all authority and ownership of the property in question has been transferred to the buyer.

It is required to contain the following:

• Defined demarcation of the boundaries of the property
• Other rights (if applicable) annexed to the property and its use
• The chain of title i.e. all legal rights to the present seller.
• The method of delivery of the given property to the buyer.
• A memo of the consideration, stating how it has been received
• Any other terms and conditions that are applicable as far as the transfer of ownership rights are concerned.

Once the conveyance (or sale) deed has been executed on non judicial stamp paper, it needs to be registered. This can be done by presenting it at the Registrar’s office, and remittance of the registration fee.

Once the registration is done, the transfer moves into the public domain. The Government obtains its revenue in the form of Stamp Duty and Registration Fees, and at this point the process of conveyance is officially over.

By admin|October 27th, 2020|CONVEYANCE DEED - AN IMPORTANT DOCUMENT|Comments Off

BUILDER’S HANDOVER PROCESS

BUILDER’S HANDOVER PROCESS

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

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

Based on our experience in interacting with various builders and associations, we have collated a check list that associations can use when in dialogue with the builder on the handover process:

1. Get approved building plan which includes block-wise and floor-wise details

2. Collect the Completion Certificate which ensures adherence of the approved plan

3. No Objection certificates from pollution, fire, water and electricity authorities

4. Hard copy and soft copy (in CD) of all approved engineering drawings; look for approval seal on the drawings

5. Registration and parent documents

6. Drainage, sewage, Fire protection and common area power layout drawings

7. Car parking layout drawings (with numbering)

8. Asset Inventory of all movable and immovable equipment purchased; numbered in order (list needs to be exhaustive)

9. Record of recent service history on key equipment’s like lifts, DG sets, STP and WTP

10. AMC and warranty details; Original bills of equipment purchased (motors, Sewage and Water Treatment Plant, Generators, Gym items like treadmill)

11. Lift license details and next renewal date

12. STP/WTP vendor details, plant layout, operation manual and drawings

13. Receipts of property, electricity and water payments paid

14. Handover of corpus amount to the association

15. Share recent expenses incurred on various maintenance activities and account heads; will assist to budget coming year (staff salaries, purchase of cleaning material, swimming pool maintenance etc)

16.Contract signed with maintenance agency; agreed SLAs

17. Insurance taken for assets and third party lift insurance

18. Audited account statement at the time of handover

19. Arrange for introductory meeting with important suppliers and vendors

By admin|October 26th, 2020|BUILDER’S HANDOVER PROCESS OF SOCIETY|Comments Off

Registration of Deemed Conveyance in Thane

On receipt of the Deemed Conveyance Order, the Deemed Conveyance Deed 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 Deed 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 Deed & to nominate 3 Members of the Society to sign the Deed.

The Deemed Conveyance Deed 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 Deed, 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 Deed 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 Deed Franked from local Bank.

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

The complete Procedure of Registration of Deemed Conveyance Deed is typically completed within 3- 4 Months.

On receipt of the Index II, the Registration Process of the Deemed Conveyance Deed is successfully completed & the Society becomes the owner of the Land & Structure.

By admin|October 26th, 2020|Registration of Deemed Conveyance in Thane|Comments Off

BUILDER-NON COOPERATION CO-OPERATIVE HOUSING SOCIETY

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

While submitting the said proposal, following documents are Necessary.

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

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

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

By admin|October 24th, 2020|Builder/ Promoter is not co-operating in registering the Co-operative Housing Society|Comments Off

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