What is deemed conveyance in a housing society?

Deemed conveyance is a legal provision that allows a housing society to obtain ownership of the land and building from the developer when they fail to execute the conveyance deed within the legally required timeframe.

What is the meaning of deemed conveyance?

Deemed conveyance is a government-approved transfer of property ownership from the builder to the housing society without the developer’s consent, granted when the developer fails to fulfil the obligation to transfer the property.

Why is deemed conveyance important for housing societies?

Deemed conveyance is important because it provides legal ownership of the property to housing societies, enabling them to undertake redevelopment, manage finances, control common areas, and make independent decisions.

What is the process of obtaining a deemed conveyance in Maharashtra?

The process includes sending a legal notice to the builder, submitting an application to the competent authority, document verification, approval of the deemed conveyance order, and registering the conveyance deed with the Sub-Registrar.

Who can apply for a deemed conveyance?

A registered housing society where the builder has failed to transfer ownership through a conveyance deed can apply for deemed conveyance.

What documents are required for a deemed conveyance?

Required documents typically include the society registration certificate, flat sale agreements, property card or land records, approved building plan, development agreement, completion certificate, and legal notice sent to the builder.

How long does the deemed conveyance process take?

The process may take several months to a year, depending on document verification, administrative procedures, and any disputes involved.

Can housing societies apply for deemed conveyance online?

Yes, housing societies in Maharashtra can apply for deemed conveyance online through state government portals, which help streamline document submission and application tracking.