Need for Deemed Conveyance

A Co- Operative Housing Society is the owner of the Land & Building & individual member enjoys the ownership right of the Flat/ Shop based on the Share Certificate issued by the Co- Operative Housing Society.

A vast majority of Co- Operative Housing Societies does not have the Conveyance in their favour & hence are not the owners of their Land & Building. In this situation, even though each member of the Co- Operative Housing Society has paid full consideration and is in possession of the Flat/ Shop allotted, he does not enjoy the benefits of title ownership of the Flat/ Shop.

In case of Co- Operative Housing Societies formed long back, many of the Buildings are in dilapidated condition and their repairs are not economically viable. The best solution available for these Co- Operative Housing Societies is to go ahead with ReDevelopment. The non- availability of the Conveyance & therefore free/ marketable Title affects the ReDevelopment Process badly.

In case of Co- Operative Housing Societies formed recently, the ReDevelopment at the moment is not on the agenda. However the non- availability of the Conveyance and free and marketable Title may affect its present Revenue and may be a hindrance in ReDevelopment process in future.

Therefore Deemed Conveyance is in the larger interest of the Co- Operative Housing Societies (and their each and every member) who are denied their right of Conveyance by the Land- Owners & Property Developers.

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