By Accommodation Times Bureau
The procurement of deemed conveyance when first introduced in 2008, the decision was considered as a landmark to protect the interest of the buyers. But if we see today scarcely only 88,000 housing societies have applied for it, making more worse the situation the land that has been conveyed to housing societies in only 700 cases.
CM, Prithiviraj Chavan on 27th November meeting has asked the officials to undertake a statewide drive from December 1 to reach across to all housing societies, the state govt. not taking action against the builders not providing conveying the land within the given time.
A conveyance deed is a document which gives a property’s title of ownership from the original owner to the ultimate purchase. Under Maharashtra Ownership of Flats (A regulation sale, management, transfer) Act, 1963, it is mandatory for a developer to convey the land to housing societies within four month’s of the society formation.
The provision for deemed conveyance was included in the same Act to allow societies o approach a district deputy registrar (DDR) in case the rule was not followed. One of the senior officials said that action under clause.