SOCIETY FORMATION & CONVEYANCE

FORMATION / REGISTRATION OF CO-OPERATIVE HOUSING SOCIETIES IN PUNE: -
According to the Law, every Builder / Developer has to form a Housing Co-operative Society with limited options available in this regard to managing the affairs of the building i.e. (a) Condominium, (b) Private Limited Company and (c) Co-operative Society, (excluding the unrealistic rental housing)

CONVEYANCE: - Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative

DEEMED CONVEYANCE: - Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.
i. Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers within 4 Months of their formation.
ii. The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
iii. The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed Conveyance.
iv. The Competent Authority shall hear the say of the Land Owners & Property Developers.
v. The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the Aggrieved Society. vi. The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.