Deemed Conveyance Why it is important?

A cooperative housing society is registered if it has a minimum of 10 flats. The conveyance deed is not issued in the name of an individual. A flat owner while buying a flat from a builder takes only a purchase agreement. He/she thinks that he/she owns the flat as well as the land on which the housing scheme stands, but that is not the case. The housing society members should have a conveyance deed to be the legal owners of the land, otherwise the builder continues to be the legal owner of the land and can sell it. Such transfer of rights is required if some changes like construction or removal of some property is to be done within the society or for some space or infrastructure is to be rented or the building is to be reconstructed. If the society loses some of its land in road widening, it can get additional floor space index and can undertake additional construction.

VED LEGAL SPECIALIZED FOR DEEMED CONVEYANCE.