Our building has formed a Co-op Housing Society last year, but so far the builder/developed has refused to do the conveyance..but i was told that once a Society is formed, the building itself automatically belongs to the Society, and the builder/developer cannot use any part of the building for commercial purpose to make money, is it true?
Our building has a theatre/hall on the ground floor, and so far income from renting that place out all goes to the builder/developer, is he allowed to do so?
Your valuable advice will be truly appreciated.
2 Answers from Attorneys
Dear Sir / Madam,
The Society has to pursue the Developer to convey the land and building to the Society, if all the flats and spaces in the building have already been sold and members are registered in the Society. Till such time as the land and building is not yet conveyed to the Society, income from common spaces like hall / theatre will go to the Developer.
Consider getting deemed conveyance under the scheme floated by Govt of Maharashtra.
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