Ownership Of Land/Building Of The Housing Society

Basic Question

A Basic Question Arises As To The Ownership Of Property In A Housing Society. This Determines The Legal Competence To Enter Into A Redevelopment Agreement And Eligibility To Receive Consideration There From. A Legal Owner Of The Land Is Entitled To Load TDR-FSI. In A Project Of Redevelopment The Arrangement To Exploit Such Rights Plays An Important Part. The Ownership Of Land Has To Be Examined Keeping In A View Different Types Of Co-Operative Housing Societies.

The Different Types of Co-Operative Housing Societies Are As Under:

1. Open Plot Societies

Societies In Which Members Desire To Purchase Or Take On Lease Lands On Which A Building Or Buildings Are Proposed To Be Constructed.

2. Flat Owners’ Societies (Housing/Premises)

Societies Consisting Of Purchasers Of Flat, Commercial Or Industrial Units Under Section 4 Of The Maharashtra Ownership Flats (Regulation Of The Promotion Of Construction, Sale, Management and Transfer) Act, 1963.

3. Tenants Societies

    Societies Formed By Tenants Of Landlord Who Had Let Out The Flats Therein.

4. Housing Board Societies

Societies Formed By Allottees Of Flats In Buildings Constructed By The Housing And Area Development Board.