- Category: Buying Procedures
- Published: Wednesday, 04 January 2012 11:14
- Written by Shiva
- Hits: 3043
Ans: The Promoter( Builder/ Developer) is legally required to convey the land and the building within 4 months of formation to the society or any legal body of the flat purchasers. However, it has been the experience that many promoters( Builders/Developers) have not conveyed the land and building to the legal bodies. Therefore, government has amended the Maharashtra Ownership Flats Act, 1963 (MOFA) and provided for the deemed conveyance in favour of the legal bodies. Under the provision, deemed conveyance means after the expiry of 4 months of formation of the legal body, the land and building is deemed to have been conveyed to the legal body and to bring the same in the revenue record, a Competent Authority has been designated who will hear the parties on the basis of applications received from the aggrieved party and transfers the title in favour of the legal body by passing the necessary order and deemed conveyance certificate and appoint an authorised officer to execute the conveyance deed in favour of the society and execute on behalf of non co-operative builder or the land owner. Getting the title of land and building by adopting the above procedure is known as deemed conveyance.
Ans: In case of regular conveyance, the builder/ Developer/ Landowner prepares a conveyance deed, execute the same and appear before the Sub-Registrar of assurance for admitting their signature. Without any problem, the legal bodies get the conveyance with the co-operation of the builder/ landowner. In case of deemed conveyance, the builder/ land owner or their legal heirs are not co-operating, therefore, the aggrieved parties appear before the Designated Competent Authority, who hears all the parties and passes the necessary order of conveyance. Deemed Conveyance is obtained as a legal remedy against the defaulter builder/ landowner who donot want to part with the land and the building in favour of the society.
Ans: Deemed Conveyance is a final conveyance. There will not be any problem. Once the Deemed conveyance is passed by the Competent Authority, the conveyance deed will be executed by the Authorised Officer in favour of the Legal Body. Further, the same will be registered. There is no appeal against the deemed conveyance order passed by the competent Authority. Once the deemed conveyance order with conveyance deed is executed, the index II has to be obtained and submitted to the Talati office or City Survey office to incorporate the name of the legal body in the 7/12 extracts or in the property card as the case may be.
Ans: Like regular conveyance, even on deemed Conveyance, the stamp duty will be only Rs.100/-, if all the flat owners have paid the stamp duty and have done the registration of their respective flats including on all the transactions (Chain of Agreements) done in those flats. In case there are some flat owners who have not paid the stamp duty or has escaped the duty, the same will have to be paid at the time of registration of the deemed conveyance deed by the legal bodies and the same can be recovered from such flat owners.