Checklist For Executing Deemed Conveyance

Sr. No Description of the Document Required For Demand Conveyance 1 Certificate Of Registration Of The Society 2 One Copy Of The Complete Agreement 3 List Of Members With Stamp Duty Paid And Registration Receipt 4 Latest Property Card And 7/12 Extract 5 Title Certificate Along With Search Report For Last 30 Years 6 Lay Out Plot Plan Approved By The MCGM 7 Approved Building Plans 8 IOD, CC And / Or Occupation Certificate Issued By The Competent Authority 9 Architect Certificate 10 Latest BMC Tax Bill 11 Legal Notice Sent To The Owner & Developers And Other Interested Parties To Execute Conveyance Deed 12 Last Known Corresponding Address Of The Owners And Developers 13 True Copies Of The Agreement For Sale Of The Existing Members Of The Society Along With The Proofs Of Payments Of Stamp Duty And Registration 14 List Of Chain Of Membership Transferred To Actual Residing Member 15 Copies Of INDEX – II In Respect Of All The Flats And Shops 16 True Copies Of The Minutes Of The General Body Meeting Of The Applicant/ Society Authorizing To File An Application For Deemed Conveyance 17 The Affidavit By The Authorized Representative On Rs.100/- Stamp Paper 18 Authority Letter On Rs.100/- Stamp Paper 19 Vakalatnama 20 Draft Of Conveyance Deed 21 Rs.2,000/- Court Fees

17/01/2013: Mission LandguruZ toDay Celebrates 3 Years Of Constant Commitment In The Redevelopment Sector Of Mumbai

From The Desk Of Mr. Nilesh Kossambe (Founder & Vice President Of LandguruZ) Welcome To LandguruZ, A full redevelopment solution provider that's different...yes, I said it, different. In a sector where our competitors are shouting the same rhetoric day in and day out, they remind me of a "Barker" at a county fair trying to convince you to come inside to see the bearded lady. LandguruZ has been quietly repeating one thing over and over for the last 1095 days....100% Total Customer Satisfaction. Trust me when I tell you that it is much easier to say it than it is to actually do it. I know this because we do it every day. LandguruZ strives to form close, long-term relationships with our clients to become a trusted extension of their redevelopments. Our technique is to closely understand our client's specific redevelopment objectives from both a business and technology perspective, and tailor solutions to meet their defined requirements. For the entire team at LandguruZ, it is all about service, service, and service. Each of our internal processes are designed to ensure that the customer experience is always positive and that we exceed their expectations. I have often heard customers' who have been with us for a short time express "that they really did not believe or comprehend all of the "hype" about LandguruZ. But after being onboard for a few months they now understand "the difference". My promise to you is to bring out the very best from those around me, to completely understand our client's business goals and objectives, and a continual commitment to exceeding our client's highest expectations every single day. On this, you have my word. Thank you for your consideration of us and I truly hope to personally thank you for being a part of the LandguruZ Family. Warmest Regards, Nilesh K

Documents Required For A Home Loan In A Co-operative Housing Society

1. Identity proof – Driving license – Voters ID – Passport – PAN card – Ration card – Employee ID – Bank passbook – Letter from a recognized public authority or public servant verifying your photograph – Confirmation letter from your employer or another bank verifying your photograph 2. Address proof – Driving license – Voters ID – Passport – Ration card – Bank passbook or Bank account statement – LIC policy/ receipt – Utility bill – telephone, electricity, water, gas (less than 2 months old) – Letter from any recognized public authority verifying residence address of the customer – Letter from your employer 3. Age proof – Driving license – Passport – Bank passbook – PAN card – Birth certificate – 10th standard mark sheet 4.Income proof Income proof and property proof vary for a salaried individual and a self-employed individual. a. Self Employed/Businessmen:- – A brief introduction of Business/Profession – Balance Sheet, profit and loss account statement of income, proof of income tax returns for the last 3 years certified by a CA – Photographs – Receipts of advance tax payments if any made – A photocopy of Registration Certificate of establishment under Shops and Establishments Act/Factories Act – Registration Certificate for deduction of Profession Tax – Certificate of Practice – Receipts of Bank loans – Proof of investments (FD Certificates, Shares, any other fixed asset) b. Salaried individuals – Income Proof (any one of the following): Latest Pay slip Form 16 Increment/Promotion letters Appointment letter Pay slip (Last 2 months) with salary account bank statement Certified letter from Employer IT returns ( for three years ) – Investment proof (FD certificates, shares, any fixed asset etc.) – Documents supporting the financial background of the borrower (liabilities and assets if any) – Photographs 5. Property documents If a flat is purchased from a builder, you need the following property documents: – Original copy of your agreement with the builder – 7/12 extract – This is issued by the concerned land authorities giving details such as the survey numbers, area, date from which current owner is registered as owner etc. – Property register card, which is obtained from the City Survey Department – N.A. permission for the land from the collector, if its agricultural – If the land is agricultural and is being utilized for residential/ commercial/industrial use, then such agricultural land has to be converted to non-agricultural land and a Non-Agriculture Order has to be obtained from the Collector of the district where the property is located. – Search Report and Title Certificate – A search report and title certificate can be obtained from an advocate who will conduct a survey of the title of the property by visiting the office of registrar. A legal opinion can avoid any legal hassles later and is mandatory to be filed with the agreement for sale. – Development agreement between the owner of land and the builder – Copy of order under the Urban land Ceiling Act – Copy of building plans sanctioned by the competent authority – Commencement certificate granted by the Corporation – Building completion certificate – Latest receipts for taxes paid towards the land or property or flat to be purchased – Partnership deed or memorandum of association of the builders firm If a flat is purchased from a Cooperative Society, you need the following property documents – Original share certificate of the Society – Allotment letter from the Society in your name – Copy of the lease deed, if executed – Certificate of the registration of the society – Copy of the bye laws of the Society – No objection certificate from the Society – 7/12 extract or property register card in the Society’s name – Copy of N.A permission for the land from the collector – Search Report and Title Certificate – Copy of order under the Urban Land Ceiling Act – Copy of the building plans sanctioned by a competent authority – Commencement certificate granted by Corporation – The latest receipts of taxes paid for the property – Original Agreement to assign / Deed of assignment If you are constructing on your own land, then you will need the following property documents. – Original sale deed of land and extract of Index II – 7/12 extract or property register card in your name – Copy of N.A. permission for land from the collector – Search and title report – Copy of tax paid under Urban Land Ceiling Act (obtained from Commissionerate of Urban Land Ceiling and Urban Land Tax) – Copy of the building plans sanctioned by a competent authority – Building permission granted by the Corporation – The latest receipts of taxes paid for your land – Estimate of the cost of construction certified by the architect

Application Format For Deemed Conveyance Issued By The Chief Minister Of Maharashtra

Respected Mumbaikars, Wishing You All A Blessed New Year Ahead. For The Application Format Of The Special Drive For Deemed Conveyance Issued By The Chief Minister Of Maharashtra, Feel Free To Mail Us At landguruz@gmail.com. Yours Truly, Nilesh K Vice President LandguruZ

FUNGIBLE FSI

The Maharashtra government, in a bid to provide level playing field to developers and reduce arbitrary decision-making, has amended the development control regulations (DCRs) for the state capital city.

According to the DCR amendments, balconies, flower beds, terraces, voids and niches would be counted in the floor space index (FSI). To compensate for the loss of free-of-FSI areas, fungible FSI to the extent of 35 per cent for residential development and 20 per cent for industrial and commercial developments has been allowed with premium.

Fungible FSI would be available at 60 per cent premium for residential, 80 per cent for industrial and 100 per cent for commercial at the ready recknor (RR) rates. It can be used for making flower-beds or voids; else used for constructing bigger habitable areas.

The move is aimed at curbing the misuse of ‘free of FSI’, and mobilising much-needed revenue for infrastructure development of the city. The change in law will also pave the way for development of more than 19,000 old and dilapidated buildings in the metro. The government believes the country’s private-sector firms and multinational companies would invest in the redevelopment projects.

It was from this January 1 that the government revised RR rates ranging between 5 per cent and 30 per cent in 716 zones of Mumbai. The government believes that this is expected to shake up the realty sector, and bring in an element of certainty among the investors by cutting down the property prices.

In other changes, no premium will be charged for fungible FSI to be used in the rehabilitation component under the redevelopment of cessed buildings under DCR 33(7) and 33(9). In suburbs where buildings were not cessed, the fungible FSI on the index already consumed in the buildings would be available free of premium. This would help developments by Maharashtra Housing and Area Development Authority as also regular proposals for the redevelopment of the buildings, using transfer of development right in suburbs.

. “This is an attempt to bring in transparency and reduce arbitrary and discretionary decision-making,”

Responses have been positive. Mr. Nilesh K Vice President Of LandguruZ feels that the new rules were a step in the right direction. “It is a win-win situation for both the developers and the government,”. “Earlier, the rules had a lot of ambiguity and discretionary powers to be exercised by officers. This discretion or relaxation was over utilised by only a handful of developers in connivance with the officers. It could be seen from the market dynamics that 80 per cent of the development is been undertaken by 20 per cent of the developers due to their clout in discretion with the officers.”

It is noted that the only sad part was that even balcony was included in the premium area, which was since inception of DC rules in 1967 always free of FSI. However, the amendments in the DCR are “overall a positive change” in the real estate development.

Moreover, parking would be available as per the provisions of the DCR, but 25 per cent more at the option of the developer. This would be without premium and without being counted in the FSI. Open space requirements for development of small plots under DCR 33(7) (redevelopment of cessed buildings) has been relaxed.

The requirement under the new rules would be only 1.6 mtrs open space on all sides of plots measuring 600 sq mtrs or less. This relaxation would also be available for small plot development under 33 (10).

The new DCR has given a relief to realty players, as it has relaxed the requirement of 2 staircase for buildings above 24 metres for building of height up to 70 metres and in case of the floor plate of buildings was less than 500 metres. The reduction of floor height in residential flats and shops from 4.2 metres to 3.9 metres would eliminate the need to inspect illegal mezzanine floors.

Home owners will not be susceptible to blackmail New Bldg Approvals Will Cut Corruption

By Subodh Kumar (Municipal Commissioner-Mumbai) Source TOI Dated 16/01/2012

Building permission rules in Mumbai gave huge discretionary powers to authorities, which were misused. The amended development control rules (DCR) will put an end to this. Areas which were not included in the building’s floor space index (FSI) were given to different developers differently, spanning a huge industry of corruption. The bribe amount does not go from the developer’s pocket. He recovers it from the flat purchaser. Ultimately, the burden falls on the citizen.
There was an even bigger problem. Free of FSI areas like flower beds, voids, ducts, lobbies, etc were sold by builders and covered into living areas. Thus, although the manipulation was done by the developer, the flat buyer was held guilty of violating the law. Action was taken against him and he was also open to blackmail by unscrupulous elements in society or even by BMC staff.
Many buyers did not know what was legally permissible and what was illegal to cover in their homes. Hence, they become liable for action. Now, under the new rules, the buyer will receive everything legally permissible only and there will be no danger of blackmail or action from the BMC staff.

Mumbai is terribly short of living space. People, by and large, need more area than what they have. New rules allow 35% more area in which number of rooms or room size can be increased, instead of flower beds, voids, lofts etc, in which one cannot live. Some people argued that this 35% extra be used only to build flower beds, niches, Elevational features and not to provide additional or bigger rooms. I did not agree with this. The choice should be with the flat purchaser. Those who want additional room or bigger rooms should have that legally and those who want balcony or flower bed or voids or other Elevational features, can have that too. New rules permit both choices and life will be easy for the common man.

Earlier, loft size in a room or kitchen was restricted to 25% of the area. If anybody made a bigger loft, action was taken as it was deemed illegal. Now, all restrictions are removed and people can put the loft in their house to the extent they like. Reconstruction of cessed building in the island city will greatly benefit by these rules. Tenants were eligible to get a minimum carpet area of 300sq ft in the redeveloped building. Now, in addition, they can received an additional 105 sq ft area for which FSI will be granted free of cost to the developer. The developer, at the most, will have to incur construction cost for this additional area.




Redevelopment of cessed buildings will also be easier because most plots are under 600sq m in size. Thus, the side margins on all sides of such reconstructed buildings have been reduce to 1.5 m. This will facilitate early redevelopment of cessed buildings. The 35% additional FSI on rehab buildings is also allowed free of premium in the suburbs. It will help existing tenants/society members to receive higher area on redevelopment.

From now on, all developers will receive equal treatment. It will not only eliminate corruption, but will speed up building approval procedures.

Land prices will also come down, which have been artificially kept high due to too much money being offered by some developers, who were able to get very high free of FSI areas by manipulating the system. This will stop. Land deals area already being negotiated at lesser prices now. The benefit will ultimately reflect in lower real estate prices in the future.

WiShiNg ALL OuR MumBaiKaRs A BLeSSed NeW YeAr