Mumbai, August 19: A significant step has been taken to resolve issues related to self-redevelopment processes and revenue concessions for millions of cooperative housing societies across Maharashtra. Revenue Minister Chandrakant Bawankule directed officials on Wednesday to expedite and simplify the ‘Deemed Conveyance’ process.
Out of approximately 115,000 registered housing societies in the state, around 60,000 to 70,000 have yet to complete their ‘Deemed Conveyance’. The Cooperation, Revenue, Settlement, and Inspector General of Registration (IGR) departments will now collaborate to finalize this process.
According to a release from his office, the Revenue Minister instructed that the names of registered housing societies be directly recorded in the ‘Other Rights’ column of property cards or 7/12 land title extracts.
A revenue department official explained that ‘Deemed Conveyance’ is a legal process that transfers ownership of land and buildings to the housing society when a builder or developer fails to do so voluntarily. Under laws like the Maharashtra Ownership Flats Act (MOFA), developers are required to transfer ownership within four months of the society’s formation, and ‘Deemed Conveyance’ provides a means to bypass non-cooperative builders.
Bawankule also issued directives to finalize key policies and ensure their swift implementation. During the meeting, officials discussed long-pending issues faced by housing societies, resulting in crucial decisions.
According to the minister, many housing societies are encountering obstacles in their self-redevelopment plans as they are not included under the Unified Development Control and Promotion Regulations (UDCPR). To address this issue, he instructed the implementation of tax concessions and a 10% incentive in accordance with the 2019 government resolution (GR).
Additionally, he directed officials to prepare a simplified standard format for ‘work contracts’ and ‘development agreements’ for self-redevelopment. The housing department was also tasked with submitting a quick proposal to the finance department for a 4% concession and obtaining clarification from the Inspector General of Registration (IGR).
While the state government had previously exempted cooperative housing societies from non-agricultural tax, the meeting highlighted that non-agricultural tax is still being collected in some areas. Bawankule ordered the preparation of a clear process regarding reserved flats under the Urban Land Ceiling Act.
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