Procedure For Deemed Conveyance

Whenever the land or the property is conveyed to the Co-operative Housing Society, it implies that the property is legally transferred in his name and thereby all the municipal taxes would be drawn in the names of members. If the property has a legal title, the Cooperative Housing Society can take the benefits of the Floor Space Index. The Plot of land has some developmental potential in the Floor space Index (FSI). The FSI may vary depending upon the location and the user zone of the plot. Thus, when the legal title of the Co-operative Housing Society has been transferred, the society can take the benefits of Floor Space Index and therefore the potential development of a plot can be carried out. Most of the times, the builders deliberately don’t transfer the Conveyance in favor of the Cooperative Housing Society with a motive of making use of the Floor Space Index at a future point in time. It must be noted that conveyance is the right of the members of the Society as well as Cooperative Society on the whole. The procedure for obtaining the Deemed Conveyance is as follows:

The Managing Committee, first of all, prepares the members of the Co-operative Housing Society for the Deemed Conveyance.

Once the list of members has been prepared, the Managing Committee would collect, organize all the documents and prepare a case as required for the Deemed Conveyance.

The Cooperative Housing Society then files a case before a Competent Authority. It is contested out of which an order of Deemed Conveyance is issued.

Thereafter, the Inspection is done, and the scrutiny committee reports to the office of the Competent Authority and summons are issued giving notices to the Land Owners as well as the Property Developers to appear for the hearing. The purpose of sending such notice is to ensure that they are being given an opportunity to present their case and thereby, the decision is taken in a neutral manner.

A deed of deemed conveyance is adjudicated, stamped as well as registered and thereafter, the competent authority incorporates the name of the Co-operative Housing Society in the land revenue record.

Once the land, property or the building is conveyed in favor of the Cooperative Housing Society, the title of the property is recorded for property cards as well as revenue records. Once this has been done, the title is free as well as marketable.