MahaRERA Orders Commercial Developers to Establish Cooperative Society and Execute Conveyance Deeds
Maharashtra Real Estate Regulatory Authority directs commercial developers to form a cooperative society and execute conveyance deeds in favor of homebuyers.
Maharashtra ReraCooperative SocietyConveyance DeedHomebuyersReal Estate RegulationReal EstateJul 12, 2024
information reveals that the homebuyers had entered into an agreement with the builder to purchase flats in Wing A of the project. Although the builder had handed over possession of the flats, they failed to execute the conveyance deed in favor of the society. According to the terms of the Letter of Intent (LOI), the builder was supposed to execute the conveyance deed before obtaining the occupancy certificate.
The homebuyers issued a legal notice to the builder on February 18, 2023, demanding compliance with their demands. However, the builder failed to adhere to these demands. Additionally, the builder demolished part of the first floor of Wing A without the consent of the homebuyers, allegedly to gain access to the ongoing construction of Wing C.
The homebuyers contended that the builder had made several unauthorized alterations to the sanctioned plans, including reducing the allotted parking space, decreasing the recreation area, and shifting the car machine room. These changes were made without the consent of the homebuyers.
Aggrieved by the builder's conduct, the homebuyers filed a complaint with the RERA, seeking a stay on the construction of Wing C, revocation of the amended plans, directives for the execution of the conveyance deed, and the registration of the cooperative society.
The RERA referred to Section 11(e) of the RERA Act, 2016, which stipulates that one of the functions and duties of the promoter (builder) is to facilitate the formation of an association, society, or cooperative society of the allottees (homebuyers) within a specified timeframe. Furthermore, the RERA also referred to Section 17 of the RERA Act, 2016, which mandates the builder to register a conveyance deed for homebuyers, transfer common areas, and provide possession within specified timelines, or within three months in the absence of local laws.
The RERA observed that under Section 11 and Section 17 of the RERA Act, 2016, the builder is obligated to form a cooperative society and execute a conveyance deed with the homebuyers of Wing A. Therefore, the RERA directed the builder to form the cooperative society of homebuyers and execute the conveyance deed in favor of the homebuyers of Wing A within three months.
The case is Association Of Flat Units Purchaser Versus M/S Commercial Developers, with citation Complaint No. Cc006000000396770.
Frequently Asked Questions
What is the main issue in this case?
The main issue is the failure of the builder to execute the conveyance deed in favor of the homebuyers and form a cooperative society.
What is the directive given by the RERA?
The RERA has directed the builder to form a cooperative society of homebuyers and execute the conveyance deed in favor of the homebuyers of Wing A within three months.
What is the relevance of Section 11(e) of the RERA Act, 2016?
Section 11(e) stipulates that one of the functions and duties of the promoter (builder) is to facilitate the formation of an association, society, or cooperative society of the allottees (homebuyers) within a specified timeframe.
What is the relevance of Section 17 of the RERA Act, 2016?
Section 17 mandates the builder to register a conveyance deed for homebuyers, transfer common areas, and provide possession within specified timelines, or within three months in the absence of local laws.
What is the citation of the case?
The citation of the case is Complaint No. Cc006000000396770.
Related News Articles
Housing Sales in MMR Witness a Significant Surge
CREDAI-MCHI report reveals increased housing property sales in Mumbai MMR, Thane, Navi Mumbai, and Palghar.
Meet Mavjibhai Patel, the Indian Billionaire Who Bought a Rs 97 Crore Sea-Facing Mumbai Mansion
Get an inside look at Patel's new property and his impressive business empire, including his diamond manufacturing company, Kiran Gems.
Pune: Former NCP Corporator Vanraj Andekar Shot Dead, Police Suspect Family Dispute
Former NCP corporator Vanraj Andekar was shot dead in Pune's Nana Peth area, police suspect family dispute
Real Estate Sees 4% Drop in Private Equity Investments in H1 FY25
The real estate sector has witnessed a 4% decline in private equity investments during the first half of fiscal year 2025. This article delves into the factors contributing to this trend and explores the implications for the industry.
Proud Real Estate Launches Romm Convent: The Ultimate Luxury Wellness Residence in Bangkok
BANGKOK, THAILAND - Media OutReach Newswire - 30 December 2024 - In the heart of Bangkok’s prestigious Convent-Sathorn area, Proud Real Estate Plc. introduces Romm Convent, a luxurious and wellness-focused residence designed for discerning urbanites.
Mumbai Police Arrests Vijay Das – Know All About the Man Who Stabbed Saif Ali Khan
Bollywood actor Saif Ali Khan was attacked and stabbed multiple times at his Bandra apartment. Vijay Das, a restaurant waiter, was arrested by the Mumbai Police in Thane.