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Now, builders can’t hold on to plots for long

More than a year after the Maharashtra Ownership of Flats Act was amended, the state government has framed the transfer (conveyance) rules that bode well for lakhs of flat owners.

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More than a year after the Maharashtra Ownership of Flats Act (Mofa) was amended, the state government has framed the transfer (conveyance) rules that bode well for lakhs of flat owners. The rules have been put on the government website for public objections and suggestions.

Under the new rules, a developer cannot put a hold on the transfer of a plot in the name of a housing society on the grounds that he will do it only when the entire plot is developed. He has to transfer the plot within four months of the society being formed, failing which he will face imprisonment of up to six months.

“As per the new rules, the developer has to transfer the building in proportion to the FSI/TDR used in respect of the particular society and continue his development in the balance area of the plot as per the balance FSI/TDR available, as on the date of obtaining the approval of building plan as per the prevailing law. If the government changes FSI rules in the future, it will be the society and not the developer that will get the benefit,’’ said an expert.

Vijay Samant, vice president of Maharashtra Societies Welfare Association, said : “Developers constructing on large plots of land were exploiting the buyers as flat sale agreements usually stated that plots would be transferred to societies only after the entire plot is developed or when a federation of housing societies was formed."

Redevelopment of several housing societies could not be carried out due to the lack of a transfer deed in their name.

According to activists, the developers hesitated from transferring property rights to a society because they wanted to retain control over the plot to exploit any potential construction rights on it in the future.

In 2008, the state legislature had amended Mofa making non-transfer of a property a cognisable offence. Lakhs of flat purchasers had heaved a sign of relief as the lack of transfer hampered the prospects of housing societies to redevelop their property.

The new rules have been framed considering the special economic zones and township concepts being taken up by the government. Further, all amenities like swimming pool, club house, gymnasium as well as open spaces which are part of the larger plot will be proportionately divided amongst the individual buildings.

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