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Advantages & Disadvantages of Deemed Conveyance in Pune?

Deemed Conveyance in Pune

Deemed Conveyance in Pune Advantages And Disadvantages


Meaning of Deemed Conveyance in Pune:

Conveyance Deed is a document executed to transfer the title of land and building in favour of Society. Importance and provision of law on Deemed Conveyance:

As per the Housing Society bye-laws, the main objective of formation of the Society is to obtain the Deemed Conveyance in Pune; and if Deemed Conveyance in Pune is not given by the Builder within four months from the date of registration of the Society, a case can be filed against the Builder to obtain the Deemed Conveyance in Pune. As per Section 13 of Maharashtra Ownership Flats Act, 1963, failure to give Conveyance is an offence and the Builder can be imprisoned upto 3 years or fined or both.

Advantages of Deemed Conveyance in Pune:

1.         Getting a proper and legal title in the name of the Society.

2.         Retaining the additional FSI as per the Government  announcements.3.         Property will be free and marketable.

4.         Society can raise the loans for repairs and reconstruction by   mortgage.

5.         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.

6.         Society can take the benefit of TDR.

7.         Members can receive compensation from Builder on redevelopment of the building.


Disadvantages of Deemed Conveyance in Pune:

AUTHORISED COMMITTEE TO GET DEEMED CONVEYANCE IN PUNE OF LAND & BUILDING IN THE NAME OF THE SOCIETY TO AVOID FOLLOWING CONSEQUENCES


1. 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.

3. The Builder /Developer may mortgage the property purchased by you as he is the legal owner and holding the Title Deeds of the Property.

4. The Builder / Developer may transfer the FSI / TDR to his other projects and enjoy the commercial benefits, depriving the flat purchasers / Society of its legal entitlement.

5. The Builder may make profit by sale of open spaces, gardens, terrace, parking space belonging to the Society.

6. 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

For any queries/information regarding Deemed Conveyance in Pune

Please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 28th, 2015|Deemed Conveyance Pune|0 Comments

Co-operative Housing Society Formation in Pune

Co-operative Housing Society Formation in Pune

Practically every developer has a Co-operative Housing Society Formation in Pune at one point of time or another. With the limited amount of options available with regard to management of the affairs of the building i.e. (a) Condominium (b) Private Limited Company and (c) Co-operative Society, (excluding the unrealistic rental housing), it will not be an exaggeration to state that in atleast 90% cases particularly in Pune the Promoters and/or the Builders have formed a Co-operative Housing Society. The basic requirements for Co-operative Housing Society Registration in Pune normally is not known to the flat purchasers. It is here that apart from the statutory obligations cast upon the builder, the builder as a friend, philosopher and guide of promoters helps in forming a Co-operative Housing Society.

There are basically four types of Co-operative Housing Societies connected with the housing.

(a) Open Plot Societies

(b) Flat Owners Societies

(c) Tenant Societies

(d) Housing Board Societies.

In Open Plot Societies, members purchase or take one lease a plot of land and themselves construct the building. Due to bureaucratic formalities and lack of specialized knowledge, a few societies are formed under the head of open Plot Societies. When a builder constructs flats and sells them to Flat Owners, the Society when formed is called Flat Owner’s Society. When Landlord forms a Society of tenants, it is called Tenants Society. When a Society is formed by Allot tees of flats and building is constructed by the Housing Board Authorities, i.e. Pune Housing and Development Board, then the Society so formed is of the type of Housing Board Society. The procedure that should be followed for formation of societies of the above said types is different for different types of Societies. Members who wish Co-operative Housing Society Formation in Pune are generally ignorant of the procedural aspects and as a result of the same they have to run from place to place and get entangled in bureaucratic delays.

The procedure for Registration of a society begins with electing a Chief Promoter in a meeting of the Promoter. The builder under the Flat Owners type of co-operative society has the first right to act as the chief promoter. The developer/flat purchasers should call for a meeting of the Promoters by issuing the notice under Agenda of the meeting given at least 14 days notice to the Promoters. In this meeting, a Chief Promoter is elected who can exercise such powers and carry out such functions as are mentioned in the minutes of the Promoters of the proposed Co-operative Society. After electing the Chief Promoter, the proposed name of the society has to be decided by the Promoters.

Normally, the name reservation proposal should be accompanied with the signature of at least 10 Promoters who have attended the meeting. It is a common belief that the Society should consist of at least 10 members. If the number is less than 10 then special permission from Government has to be taken. In such cases, the garages/car parking may be allotted to other relatives of the promoter to reach number of 10. It would be of interest to note that the model bylaws define flat as a ‘Flat means a separate set and self-contained set of premises used or intended to be used or intended to be used for residence, or office or show-room, or shop, or go down and includes a garage, or dispensary, or consulting room, or clinic, or flour mill, the premises forming part of a building and includes an apartment’. 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. The documents that are normally to be submitted to the Registering Authorities are as under :-

1. Application for registration of Society in Form A along with Statement A. Enclosure to application for Registration as per Rule 4(1) of Maharashtra Co-operative Societies Rules, 1961.

2. Information about proposed society in Statement ‘B’ (vide Govt. Circular dated 2-5-1980).

3. Information about promoter members of the proposed society in Statement ‘C’ (vide Govt. Circular dt. 2-5-1980).

4. A Statement of Accounts as per Form D.

5. Model Bye-laws.

6. Bank Balance Certificate.

7. R.B.I. / Treasury Challan for payment of Registration Fee of Rs. 2500/-.

8. Title Clearance Certificate from an Advocate

9. A true copy of the approved Building Plan.

10. Letter of Authority Granting permission to commence construction work/Completion Certificate (if applicable).

11. Affidavit on Rs.100/- Stamp Paper from atleast 10 promoter members to the effect that they are residing in the area of operation of the Society (Proposed), made before a Competent Authority.

12. Affidavit from the Chief Promoter on Stamp Paper of Rs. 100/- executed before the Competent Authority in form ‘Y’.

13. Certified True Copy of agreement made on Stamp paper and registered between the builder, promoter and purchasers of flat.

14. Where the promoter members are firms/ companies, a letter of authority from such firms/companies authorizing the promoter to sign on behalf of firm/company.

15. In case of such proposed societies, names of 60% of the flat holders of the total number of flats constructed or proposed to be constructed as per the plan approved, must be included in Statement ‘A’ to be attached to the Registration Proposal.

It is the duty of the Registrar to register the society and on registration of the society it becomes a separate legal entity. Thereafter, the management of the affairs of the society is carried out by the managing committee which is elected by the general body meeting of the society. It may be of interest to note that in a co-operative society the principle is one member one vote. In a co-operative society the right to be exercised in the general body meeting is a personal right. This is one of the reasons why even a person holding a power of attorney cannot attend the general body meeting of the society. THE quantum of the capital being introduced by the member is not of much importance. Preference should be given for formation of a private limited company if one member propose to acquire majority of the flats in the building.

For any queries/information regarding Housing Society Formation in Pune

Please contact us:
Advocates for Housing Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 28th, 2015|Society Formation Registration in Pune|0 Comments

Deemed Conveyance in Pune – Transfer of society land

The Maharashtra State Government has recently issued an order, specifying details of how housing societies can go about applying the transfer process.

The state has decided to appoint competent authorities to help facilitate the process for the deemed conveyance in Pune (which means transfer of land title from landlord to society) .

The district deputy registrars and Joint Registrars of cooperative housing societies have been appointed as competent authority to handle and take care of applications received from housing societies for transfer of land.

In 2008, the state had made amendments to the Maharashtra Ownership of Flats Act, 1970.

The official further states that “The new order specifies that the competent authority can initiate the process of deemed conveyance in Pune where one or more than one building on a single plot, is fully developed”.

According to a rough estimate, around 40-45% of housing societies in Pune and Pimpri-Chinchwad are yet to get the deemed conveyance in Pune. Around 80,000 housing societies exist across the state of Maharashtra. The maximum numbers are in Mumbai, Thane, Navi Mumbai, Pune, Nashik and Nagpur. 

Set Of Documents
A. Sale agreement between the promoters and the buyers.
B. 7/12 extract (this document has detailed information about the land on which the society 
stands) and format number 6 issued by Revenue authorities.
C.  Property card (this gives a summary of successive owners of the land)
D.  Certificate for non-agricultural use
E.  Building commencement certificate, building completion certificate, occupation 
certificate.
E. List of flat buyers, proof of stamp duty payment, registration documents, etc. 
For More information please contact us:
Consultants for Demmed Conveyance in Pune /Demmed Conveyance
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

 

By |December 28th, 2015|Deemed Conveyance Pune|0 Comments

Consultant for Co-operative Housing Society Registration in Pune

Consultant for Co-operative Housing Society Registration in Pune

While working with society administrators and members, we notice that one of common services they need is the “Consultant Co-operative Housing Society Registration in Pune”. Someone who is an expert on housing society matters from operational and legal point of view. A right consultant can make a big difference in how you run your housing society especially if it’s not functioning properly and facing lot of internal disputes.

Someone who can help you in:

  •     Setting up your housing society in day-to-day advice
  •     Holding elections and formalize processes
  •     Handle corruption at various level
  •     Resolving disputed matters
  •     Streamlining administrative jobs
  •     Legal advice
  •     Society registration
  •     Society deemed conveyance
  •     And all that you need to run your society well

Feel free to contact us if you need a Consultant for co operative housing society registration in Pune. We can connect you with consultant best for you. A professional well versed with cooperative act, bye-laws of cooperative societies, certified and recognized by the registrar of cooperatives as administrator and election Officer.

By |December 17th, 2015|Society Formation Registration in Pune|3 Comments

Criterion for Co-operative Housing Society Registration in Pune

Criteria for Co-operative Housing Society Registration in Pune

The criterion of Co-operative Housing Society Registration in Pune and required necessary papers are to some extent different as per types of the Societies.

There are three types of the Housing Societies.

  1. Tenant Co-partner Housing Society – this is society of the flat holders
  2. Tenant Owner Housing Society – this is also for society of the flat holders
  3. Other Housing Society – these are construction of houses/house mortgage Co-operative Housing Society

Her are the list of documents required for register for respective type of society:

  1. Documents  for registration of Tenant Co-partner Housing Society
  2. Documents required for registration of Tenant Ownership Housing Society
  3. Required documents for Other Housing Society are:
    • Application for registration of Society (A Form)
    • Table containing information of the society (B Form)
    • Table containing information of the members (C Form)
    • Statements of accounts of the members (D Form)

For More information please contact us:
Consultants for Housing Co-operative Society Registration in Pune / Housing Co-operative Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

 

By |December 17th, 2015|Uncategorized|0 Comments

Society Formation in Pune

Society Formation in Pune

we provide services for society formation in Pune for co-operative housing societies.

We, at Ved Legal, provide society formation in Pune and formation services which help you at every step of society formation in Pune, right from inception to final handover. We look after all the legal complications involved in society formation in Pune and carry out necessary negotiations with developers. Our years of experienced team can help you with the complete process without any hassle.

Forming a legal society is of utmost importance. It helps society owners to reap unlimited benefits and maintain smooth functioning. It is mandatory for developers to create societies and provide a final handover to the owners. However, many developers do not comply with these procedures and hence flat owners lose that added benefit that a legal society enjoys.

Co-operative housing society formation in Pune

We specialize in co-operative housing society formation in Pune. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

For any queries/information regarding Housing Society Formation in Pune

Please contact us:
Advocates for Housing Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 10th, 2015|Society Formation Registration in Pune|0 Comments

Society Registration in Pune

Society Registration in Pune

we provide services for society registration in Pune for co-operative housing societies.

We, at Ved Legal, provide society registration in Pune and formation services which help you at every step of society registration in Pune, right from inception to final handover. We look after all the legal complications involved in society registration in Pune and carry out necessary negotiations with developers. Our years of experienced team can help you with the complete process without any hassle.

Registering a legal society is of utmost importance. It helps society owners to reap unlimited benefits and maintain smooth functioning. It is mandatory for developers to create societies and provide a final handover to the owners. However, many developers do not comply with these procedures and hence flat owners lose that added benefit that a legal society enjoys.

Co-operative housing society registration in Pune

We specialize in co-operative housing society registration in Pune. We help developers and societies with complex registration process during society mergers, society split, and federation registrations.

For any queries/information regarding Housing Society Registration in Pune

Please contact us:
Advocates for Housing Society Registration in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 8th, 2015|Society Formation Registration in Pune|0 Comments

Documents required for Housing Society Registration in Pune

Documents required for Housing Society Registration in Pune

We’re frequently asked about the documents that are required for housing society registration in Pune.

7/12 extract of the land or property card.
Certificate from the competent authority regarding non-agricultural land.
The order regarding applicable/non applicable of land ceiling Act.
Construction layout 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. However the government has given permission subject to some conditions for the Housing society of less than 10 members by exercising powers under section 7.
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 given by that 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)
Bye-Laws of the Mortgage Society.
Notorised Guarantee letter by the Chief Promoter of the society on the stamp Paper of Rs. 100/-
Notarised 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 approved by the Commissioner, Cooperation and Registrar, Co-operative Societies, Maharashtra State Pune.
Proof of the bank balance of depositing the amount of each share of Rs. 500/- of the promoter member and admission fee of Rs. 100/- after getting permission for reservation in the District Central Cooperative Bank.
Chalan of Rs. 2500/- deposited in the Government Treasury Registration fee for the Housing Society of Backward class is Rs. 50/-

For any queries/information regarding Housing Society Registration in Pune

Please contact us:
Advocates for Housing Society Registration in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 8th, 2015|Society Formation Registration in Pune|0 Comments

Procedure for Deemed Conveyance in Pune

Procedure for Deemed Conveyance in Pune

The Procedure for Deemed Conveyance in Pune involves the following Stages

1- Preparation for Deemed Conveyance in Pune

During this stage the Managing Committee prepares the Members of the Co- Operative Housing Society for Deemed Conveyance in Pune.

2- Documentation for Deemed Conveyance in Pune

During this stage the Documents Required for Deemed Conveyance in Pune are collected/ organized & the Case is prepared.

3- Legal Case for Deemed Conveyance in Pune

During this stage the case is filed before the Competent Authority & after contesting the same the Order & Certificate upholding the right of Deemed Conveyance of the Society is obtained.

4- Registration of Deemed Conveyance in Pune

During this stage the Deemed Conveyance Deed is Adjudicated, properly Stamped & Registered.

5- Transfer of Property after Deemed Conveyance in Pune

During this stage the Society Name is incorporated in the Land Revenue Records.

Further Reading:

Conveyance of Co- Operative Housing Society
Need for Deemed Conveyance in Pune
All About Deemed Conveyance in Pune
Advantages of Deemed Conveyance in Pune
Preparation for Deemed Conveyance in Pune
Documentation for Deemed Conveyance in Pune
Legal Case for Deemed Conveyance in Pune
Registration of Deemed Conveyance in Pune
Transfer of Property after Deemed Conveyance in Pune
Deemed Conveyance in Pune

For any queries/information regarding Deemed Conveyance in Pune

Please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 8th, 2015|Deemed Conveyance Pune|0 Comments

Society Formation in Pune: How to form A Society in Pune? Formation of Society in Pune.

Society Formation in Pune: How to form A Society in Pune? Formation of Society in Pune.

Society Formation in Pune is formed & registered with the Registrar office Societies under Societies Formation Act. In Maharashtra state it is registered with Charity commissioner.

Society Formation: How to register Society Formation in Pune?

A minimum of 7 members are requied to register a Society. A society shall be registered with the Registrar office under Societies Formation act 1860 (A separate Registrar of Societies will be in your area). Only for Maharashtra state its different and it shall be registered with Charity commissioner.
Formation of society is undertaken by a basic document of Memorandum of understanding and Articles of Association with the specified rules and regulations. Such document consists of Name, occupation and address of all members and with the rights, power, duties and responsibilities of each members and governing body.

Society Formation in Pune

is formed by association of at least 7 members. Each designated persons will be elected by election 3 years once or as specified by the about society document.
The objects and rules of the society is formed as per the societies act and you shall contact the society of registrar to have more details towards creation of bye-law ( Memorandum of understanding and articles of association). Also you can ask your Auditor, chartered person, Lawyers, Attorney to help you towards this bye-law creation.
No stamp paper is required for society Formation. Management of society run by Governing body and succession in management is by Election.
As per the Societies act, the Governing body meeting and Annual general meeting should be conducted. Governing body members are entrusted the management of the affairs of the society. Where as the General body member duties include election of Governing body members, alteration of name, objects, rules and regulations if necessary. Even a foreigner can be a member of a society in India.
The purpose and object of the society shall be literary, scientific or charitable purpose.
After Formation of society, you shall apply of PAN CARD if required. Any way each year we have to submit the accounts to the Registrar of societies.
Non-filling of names, addresses and occupation of Governing body members, council, directors, committee entrusted with management of the Society or willfully furnishing false information or return or refusing or neglecting to send audited income and expenditure statement and information are offences of the Society which can be penalized.

For any queries/information regarding Society Formation in Pune

Please contact us:
Advocates for Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By |December 4th, 2015|Society Formation Registration in Pune|0 Comments