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Society not registered

Last updated: August 19 2009
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  • Society not registered

    I have recently seen an investor's flat (3 yrs old) the price & flat are suitable. Only concern is that the owner mentioned that the particular wing where the house is located is not yet handed over to the society.. seems all wings other than 2 wings are part of the hsg society.

    What are the risks in this case? The bldg is located in Viman Nagar & builder mentioned that this scenario of blgds not forming into societies is common..

    Please advise...
  • #2

    #2

    Re : Society not registered

    Originally posted by ssm014 View Post
    I have recently seen an investor's flat (3 yrs old) the price & flat are suitable. Only concern is that the owner mentioned that the particular wing where the house is located is not yet handed over to the society.. seems all wings other than 2 wings are part of the hsg society.

    What are the risks in this case? The bldg is located in Viman Nagar & builder mentioned that this scenario of blgds not forming into societies is common..

    Please advise...
    Please take a legal advice before investing.

    Comment

    • #3

      #3

      Re : Society not registered

      Originally posted by ssm014 View Post
      I have recently seen an investor's flat (3 yrs old) the price & flat are suitable. Only concern is that the owner mentioned that the particular wing where the house is located is not yet handed over to the society.. seems all wings other than 2 wings are part of the hsg society.

      What are the risks in this case? The bldg is located in Viman Nagar & builder mentioned that this scenario of blgds not forming into societies is common..

      Please advise...
      Builders are delaying society formation all over pune. unless they form the society, you will need NOC from builder to buy flat in resale. Now builder will ask you anything between 50k to 2L for NOC. you can negotiate with the owner to bear the NOC charges( thus owner will be more inclined to negotiate NOC charge with builder )
      Also builder will be charging huge amount for maintanance. make this clear.

      I dont know the legal aspect on forming society, but i read its necessary for builders to form society once they get minimum required members. Builders are telling people wrong that they can not form soceity untill the whole project gets over. This is not true. Builder has to form society once they get minimum members.

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      • #4

        #4

        Re : Society not registered

        Originally posted by ssm014 View Post
        I have recently seen an investor's flat (3 yrs old) the price & flat are suitable. Only concern is that the owner mentioned that the particular wing where the house is located is not yet handed over to the society.. seems all wings other than 2 wings are part of the hsg society.

        What are the risks in this case? The bldg is located in Viman Nagar & builder mentioned that this scenario of blgds not forming into societies is common..

        Please advise...
        What do you mean by 'seems'? Please be precise.
        Anyways, here are following things you need to check:-

        1.) Whether the project was completed in phases,
        2.) The completion certificate from the PMC,
        3.) Occupation certificate,
        4.) Ask about maintenance charges & the authority who would be responsible for maintenance & the duration,
        5.) Speak with other residents here for the same,
        6.) Legally, the builder can't demand a single penny for NOC if all the papers between the current owner & builder are in order & the owner has paid all the dues till date,
        7.) Max. charges is INR 25k that too for getting NOC & share certificate for voting rights from the society. But as the society has not been formed, this won't come into existence.
        8.) Also check whether any new development is going to come up in existing premises in future.

        * It would be better if you can hire good attorney for the legal issue, but buying resale property without points 2 & 3 can be risky. In the meantime also ask the lawyer that based on current status, can a society be formed under MOFA.

        Keep us updated.
        If you are happy, you are successful.

        Comment

        • #5

          #5

          Re : Society not registered

          Laws

          As per bye laws, a group of minimum ten residents are required to form a society and get it registered.

          Until the project gets completed with the certificates as mentioned by Real, The society cannot be formed and registered.

          Now lot of projects in up coming areas are partly constructed. Thus u have two bldgs complete while 3 bldgs construction is slow/stuck up.
          In such a case the bldr is providing the maintenance and charging for it. Ordinarily, the bldr is supposed to complete the project and hand over the ownership to a formed society which is then registered within a stipulated time ( chk agreement for time schedules). There r three types of ownership in apartments as per MOFA.

          The solution is to inform single/2 bldg societies, to take ownership issue, handle maintainenece, frame rules & charges etc. However, caution is advised, since large no of issue crop up regarding open land utilisation, ownership, amenities presently available and planned in future with the bldr and future bldg owners/societies. Simple issue like open parking, water supply line etc can create a big head ache in future.

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