Maharashtra Conveyance Bill Passed

Government of Maharashtra have passed, much awaited Bill on Conveyance on 16 April 2007. The bill now compels the builders and developers to give conveyance within 4 months of registering the society. If there are many buildings in a complex, than builder has to sub division of the society plot and give them the Conveyance. Flat purchasers who have brought flats or properties after 1994 will have to pay just Rs.100/- to get the conveyance. Since from 1994, documents were made compulsory to be registered. Purchasers brought before 1994 and not paid the stamp duty will have to face the heat and will have to pay according to today’s value of the property. If few members have not paid the stamp duty, then the penalty will be levied only on them and not entire society members.
A Legal obligations supercedes the contractual obligations hence if builder do not give conveyance then there are provisions for penalty and prosecutions. If a joint venture is made with the land lord and conveyance is not given then builder and landlord are jointly and severely liable under the act.