Deemed Conveyance
Deemed Conveyance
In simple legal terminology, the deemed conveyance meaning can be explained as the transfer of right, title, and interest of the land or building in the name of the housing society. In the regular conveyance, the Promoters (construction builder, landowner, or developer) willingly or voluntarily give the conveyance. The standard conveyance deed has to be executed between the promoters and the housing society. Still, it has been noticed in many of the cases that the builders or landowners are not ready and willing to execute the deed. In such instances, the Maharashtra Government has given the right to the Competent Authority under the MOFA deemed conveyance (Maharashtra Ownership Flat Act) to sign the conveyance deed on behalf of landowners and developers. This is called Deemed Conveyance.
Deemed Conveyance is the transfer of right, title & interest of the land/building in the name of the Housing Society.
MOFA Act (Maharashtra Ownership Flats Act,1963), Maharashtra Government has given the right to the Competent Authority to sign the ‘Conveyance Deed’ on behalf of Land Owners & Developers.
Deemed conveyance: Latest updates
State co-operative department initiates awareness drive on deemed conveyance
The Maharashtra cooperative department in the beginning of 2021, initiated a drive among housing societies, to spread awareness about deemed conveyance. The drive was supported by the Pune District Cooperative Housing Society Association. In January 2021, about 200 applications for deemed conveyance were submitted by registered co-operative housing societies in Pune. There are about 18,000 registered cooperative housing societies in the city and over one lakh across the state. The registrar of cooperative housing societies received 574 applications in the state. Around 14,376 cooperative housing societies had obtained deemed conveyance, while over 70,000 housing societies were still to receive the deemed conveyance.
Disadvantages, if Deemed Conveyance is not done
- Building cannot be reconstructed, without prior approval of the Owner / Landlord / Builder / Developer, if existing structure is dilapidated due to damage, old age or any natural calamities like earthquake etc.
- Unables societies to get the legal title and ownership of land and developing rights
- No entry in governments records of the Society details.
- Unables Society to retain the additional FSI & TDR
