REAL ESTATE UPDATE
1st June 2023
Issue No. 08/23-24
DEEMED CONYENACE IN A MONTH FOR SELF-REDEVLOPMENT IN MAHARASHTRA
The department of co-operation and the ministry of marketing and textiles of the government of Maharashtra has issued a Government Resolution on Wednesday i.e., 31st May 2023 (‘GR’). The said GR has been issued in order to provide deemed conveyance within a period of one month to societies that wish to go under self-redevelopment. This GR has come within a short period of Dy CM Devendra Fadnavis (who is also the housing minister of the state), making the announcement. The said GR has been issued as a direction to all the competent authorities, including CIDCO and MCGM. It provides that after the co-operative housing society has passed the resolution in its general body meeting for self-redevelopment and submitting a proposal for deemed conveyance before the competent authority, it will be binding on the competent authority to take a decision within a period of one month from the date of submission of such proposal. Thereafter, the competent authority will be bound to issue deemed conveyance to self-development projects within 30 days. The said GR can be accessed here.
Deemed conveyance is a legal document which transfers the ownership of land from the developer to the co-operative housing society and it is vital legal document to show the ownership of the land. The state government earlier issued a GR dated 22nd June 2018, facilitating deemed conveyance (‘Earlier GR’). The Earlier GR was introduced as the co-operative housing societies were facing a lot of difficulties in the deemed conveyance process. The Earlier GR provides for a comprehensive procedure including the applications which are required to be made along with relevant documents before the competent authorities. Further it provided that the District Deputy Registrar of Co-operative housing society / Competent authority should complete the hearing and dispose of the application for deemed conveyance and grant certificate of conveyance within a period of six-months. The said Earlier GR can be accessed here.
Thus, to reduce this cumbersome process for deemed conveyance which takes months to complete, now the GR dated 31st May 2023 is intended to change the scenario and reduce the period of six-months to one-month.
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