Since 1986

ACCOMMODATION
TIMES

India's oldest knowledge based newspaper on Real Estate

ACCOMMODATION TIMES INSTITUTE
OF REAL ESTATE MANAGEMENT
Offering Management Courses
$ Diploma in Real Estate Management
$ Diploma in Real Estate Finance
$ Diploma in Real Estate Marketing :Click or Call :  91-22-26173827

ISO Certification in Real Estate
4th Oct 07
 At University of Mumbai Kalina

CHENNAI.....Good investment opportunities in all the segment of the city. Commercial rentals is on fast trek. Residential segment also having very good demand from rural areas. Outskirts of the city is now more costly then CBD residential areas.   AHMEDABAD..... ..... Huge NRI funds were recently invested in residential segment of the city. Commercial too is feeling the heat. Residential rates are marginally up by 20% since last quarter. The trend is likely to continue.   BANGALORE...... ...IT and ITES are again in the buying spree. Residential complexes are getting good demand. NRIs investments are up again. Service apartment concept is catching up in the city. Commercial lease rentals are rising.   PUNE.... ... Pune is poised as IT centre by the developers. In fact many leading IT brands are in the city. It has enhanced the residential rates. Outskirts like Viman Nagar, Pimpari and Chinchwad also now having great demand. Good time ahead.   DELHI .... ...The market is slow for residential units. Noida and Gurgaon also have touched historic level. New zones are in the competition. Faridabad and Merut along with Rohtak are busy catering for demand in Delhi and NCR    MUMBAI.. ..... ..Realty Fund and investors of large real estate holdings are still maintaining the price level. Developing zones are feeling heat. Small pocket developers are also panic in the market. Residential prices stagnated as of now.

Home

Property Rates

Projects

Research

News

Indian Cities

Archives



Register your society this way
By P.V.Kane

While registering a co-opera tive housing society, one has to follow certain procedures. Given under are provisions of law to follow for registering a co-operative housing society.

18. Specific requirements of Land while registration of society a) Allotment letter if land is obtained from Govt/Collector B.M.C. b) Whether the land is free-hold or lease hold ? If lease hold the disclose the duration of such lease ? c) Whether Non-Agricultural permission is obtained d) Whether the Agreement of Sale or Conveyance is in the name of Builder/Chief Promoter. 22. Judgement of Registeration of Co-operative Housing Societies

A summary of various Judgement & Others delivered by the various High Court, and other Authorities is as under :

Summary of Judgements
a) An Appeal U/S. 154 of M.C.s. Act 1960 filed under No. DVII/HSG/Rajdeep/Appeal/99/83 in the matter of Rajdeep Apartment V/s. The Asstt. Registerar, Co-operative Societies, H(W), Ward, Bombay Societies, Bombay. It has been observed as : In this case the Builders wanted to consume the balance F.S.I. available on the plot and hence were delaying the registration of Society on this count. In this context it has been observed as “ The Respondents should also call for the details and plans etc. from the Builder regarding balance of F.S.I. yet to be consumed and any other particulars if so required. The present strength of the flat owners in the proposed Society is 20 as against 25 flats and 6 galas. If the Builder feels that the strength is less than 60% of the total strength flats proposed to be constructed, then it is for the Builder to bring out the proof in this behalf and if the builder fails to submit necessary proof, the Registering Authority should be free to decide the case of Registration of the Society and the same need not be held up only conditions are fulfilled by the promoters, and the Society, be registered by giving appropriate opportunity to the Builders”.

By the virtue of the above Judgement, the major difficulty of not registering the Society under the quise of balance F.S.I. came to and end and now the Societies with even unconsumed F.S.I. can be registered they are fulfiling the other terms and conditions laid down for Registrations. b) In another matter, the Builders had constructed the several buildings on the big plot of vacant land. The individual flat purchasers of each buildings were interested in registration of separate buildings. The Registrar refused the proposal on the grounds that the plots were not subdivided. The aggrieved party filed a Writ Petition against the State of Maharashtra being Writ Petition No. 1642 of 1983. IN this case Justice M.L.Pendse has observed as under :- “The Registration of the Society cannot be refused on the grounds that 90% of the flat Purchasers have not signed the application. The objection raised by the Registering Authority is without any substance and Registering Authority is bound to register the Society as all the requirements are compiled with.

In this way the major difficulty of Registration of Society in abscence of sub-division of plot has now succeeded. c) Shri S.S.Tinaikar, Secretary of Govt. of Maharashtra Housing & Special Assistant Department has nwo clarified in their letter No.FOB/1084/4677/11 dated 19.5.1984 that Co-operative Housing Society of the Purchasers of flats could be registered if minimum number of person (i.e. at least 60% of the total flat purchasers) have entered into Ownership agreements with the Builders even if either (i) the building of flats has not been given, (iii) Building Occupation Certificate is not granted. Hence, under the above provision the registration of the Society need not be put off if 60% flat purchased have entered into Agreements.