Guardian minister of Mumbai suburbs Adv Mangal Prabhat Lodha has taken a lead in dissemination of information on the processes involved in getting deemed conveyance of properties.
"A special stall will be set up at the conference of cooperative housing societies to be held at the NESCO compound in Goregaon wherein we shall ensure that all the crucial information regarding various processes involved in getting deemed conveyance of properties," Lodha said.
Mandatory to hand over property within 4 months
The clause 4 of MOFA (Maharashtra Ownership of Flats, 1963) clearly states that promoter and builder of any housing scheme are duty-bound to form a housing society as soon as 60% flats of the housing society are sold and it is also mandatory for them to hand over the property to the society within 4 months of completion of construction.
But, several promoters-builders don't do that and under such circumstances the property automatically goes back to the builder or promoter in case of building collapse in natural calamities like earthquake or accidents. To protect the interests of property buyers, the Maharashtra Government has brought in a legislation for deemed conveyance wherein the deputy registrar is empowered to transfer the property in the name of the society.
Property buyers unaware of rules
“It has been observed that most of the property buyers are generally unaware of these provisions regarding deemed conveyance. Hence, we have made special arrangements to take the information to people,” Lodha said, adding that people will be able to get the information between 9am and 6pm at the convention in Goregaon on Sunday (May 14).
