The Complete Guide to Deemed Conveyance
We put our hard-earned money into a society when we buy a flat, row home, shop, or office. It’s a good idea to double-check whether the Society Land Conveyance Deed has been completed.
It is legally necessary for a Society to register its Conveyance Deed and insert its name on the Revenue Record, such as a 7/12 extract or a Property Card. It is required by law and prevents future litigation in the property in question.
As stressed by redevelopment consultants, before redeveloping a property, it is also vital to obtain a legal title to the property.
Conveyance
Any written document that transfers (conveys) real estate property or real estate ownership from one entity to another is referred to as a conveyance.
As a result of the definition above, it is clear that if someone freely transfers their legal claim to a property to another person, they must do it via a document. The Deed of conveyance is the name given to such a document.
The word “willingly” is crucial here.
In the case of housing societies, as seen by project management consultants for redevelopment, the builder/promoter should preferably issue a Deed of Conveyance and deliver it over to the housing societies within four months of the project’s completion.
Deemed Conveyance
The Promoter (Builder/ Developer) is legally obligated to surrender the land and building to the Society or other legal entity of the flat purchasers within four months after incorporation.
However, many promoters (builders/developers) have not transferred the land and buildings to legal organizations, according to our experience as project management consultants for redevelopment.
As a result, the Maharashtra Ownership Flats Act, 1963 (MOFA) has been revised to allow for a presumed conveyance in favor of legal entities.
Self redevelopment consultant in India can help you if you’re facing any issues related to this.
According to the provision, deemed conveyance signifies that the land and construction are deemed to have been conveyed to the statutory authority and to introduce the same into the income transcript after the expiration of four months from the date of formation of the legal body; a Competent Authority has been identified to hear the sides on the premise of applications collected from the aggrieved party and transfers the title in favor of the legal body without the need for order and deemed conveyance certificate, and a Competent Authority has been designated to.
The foregoing technique is called deemed conveyance, obtaining the title to land and buildings. Alka Property is one of the prominent redevelopment consultants in Mumbai who can aid with any issue related to receiving the conveyance.
Significance of deemed conveyance
Obtaining a considered transfer allows Society to secure legal title and ownership of land, establish rights and make entries in government records. It puts the land available for sale to potential buyers. Furthermore, the Society can keep the extra FSI and benefit from Transferable Development Rights (TDR).
In place of ceding the land or a portion of it to a local body, a property owner might get rights in the form of a certificate issued by a competent authority and having economic worth.
More crucially, redevelopment consultants state that considered transfer allows a society to get planning clearance to renovate its structures.
What does the law say?
In the case of Regular Conveyance, the Builder/ Developer/ Landowner/ Promoter is required by section 11 of the Maharashtra Ownership Flats Acts (MOFA) to cooperate with the CHS and execute a Conveyance deed before the Sub-Registrar, after which the original documents are handed over to the new owners after all the necessary procedures have been completed.
What is the distinction between a deemed and a regular conveyance?
To summarise, a regular conveyance is any Deed of Conveyance performed with the consent of both parties. If one of the parties refuses to cooperate in a presumed transfer, Self redevelopment consultant in India says thatthe aggrieved parties might seek an order of conveyance from the authorized authority.
Deemed Conveyance Preparation
The governing committee must resolve to proceed with a presumed transfer at this point. A Special General Meeting is called with advance notice, and all members’ permission is required to move. It would be best if you conferred with a project management consultant for redevelopment before this step.
The following Resolutions are usually passed during this SGM.
- Resolution to proceed with Deemed Conveyance
- Authorized Representative Appointment Resolution
- Appointment of a Legal Consultant for Deemed Conveyance Resolution
- Per-Member Contribution Resolution
Documentation for Deemed Conveyance
The essential step in acquiring a considered conveyance is to complete this stage. It’s a rigorous process that ensures all documents are in the correct order and format. Redevelopment consultants help prepare the documents efficiently for this process.
Once all the paperwork is in order, the Society must complete Deemed Conveyance Application- Form VII and attach all supporting documentation. A legal notice is provided to the developer requesting their approval in the case of presumed transfer.
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List of Documents Required for Deemed Conveyance
Resolution & Notice to Builder
- Resolution & Notice to Builder
- Development Agreement
- Power of Attorney
- Layout Plan (Blueprint)
- Commencement Certificate
- Completion Certificate
- 7/12 Extract
- Search Title Report
- NA. Order & ULC Order
- A single copy of an Agreement (First Buyer)
- All Index- II of all flats/shops
- Architect Certificate of Area
- Society Registration Certificate
Legal Case for Deemed Conveyance
During this step, the complaint is submitted to the Competent Authority, and after fighting it, the Order and Certificate confirming the Society’s right of Deemed Conveyance is acquired.
Within one month of receiving the application, the authorities will provide a Deemed Conveyance Scrutiny Report- Form VIII. Authorities take both sides’ arguments into account during the hearing procedure.
Because this is a time-bound task, redevelopment consultants in Mumbai have noted that the entire procedure is accomplished in six months.
Registration of Deemed Conveyance
The Deemed Conveyance Deed is adjudicated, duly stamped, and registered at this step.
During this phase, a presumed transfer deed is drafted and signed by both societies and developers. Project management consultants for redevelopment have stressed to note that authorities can sign the Deed on behalf of developers if they do not present for a hearing in the preceding stage (which is the situation in presumed transfer).
The registration office then sends a notification to the landowner/developer to see if the Deed of Conveyance is subject to any stay orders. (Note: The developer can only secure a stay order from the Supreme Court.)
The Deed of presumed transfer is registered if there is no stay order, and the office distributes scanned papers and Index II. The registration procedure concludes at this point, and Society becomes the land owner and structure owner.
Transfer of Property after Deemed Conveyance
The Society Name is recorded in the Land Revenue Records at this time.
During this step, a new application is sent to relevant departments, requesting that they make changes to their records. This would bring the procedure to a close.
How can redevelopment consultants help in the process?
According to the Maharashtra Government’s recent recommendations dated 4th July 2019 and the Maharashtra Government’s latest applicable UNIFIED DEVELOPMENT CONTROL PROMOTION REGULATIONS (UDCPR), it is now essential to employ a Project Management Consultant for Redevelopment projects.
With the support of related architects, legal advisors, and financial consultants, Alka Property assists societies and members in completing the process.
The Redevelopment Committee’s principal priority is creating a mentality for redevelopment. We obtained and effectively completed projects following government regulations and established SOPs. Our seasoned redevelopment consultants play a critical role in instilling a positive outlook in members and fostering a healthy and trusting relationship as they move through the many stages of the rebuilding process.
We assist all parties in the process, from society members to developers, by bringing them together on a single platform. Our staff collaborates with a hands-on approach to address each person’s problems. Then, in an empathic and efficient manner, we quickly walk them through the legal documentation process.
We guarantee that the Society’s and its members’ interests are protected, providing members the confidence they need to continue forward in the process.
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