Thursday, October 31, 2013

Commercial Premises On Outright At Kandivali East( AP- 1310253629)

M. G. Croos Road No. 3
250 Sqft. Salable
Gr. Road facing
80 Lacs
It’s an unfurnished premises. Can be used for retail purpose or for office purpose. Road facing.

Neeta Shah
Neeta Shah 
Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 

Tuesday, October 22, 2013

Documents required for Redevelopment of society

Documents required for Redevelopment of society

1)      Conveyance :

Society needs to obtain conveyance in the name of the 
society , if builder/land owner not willing to provide 
conveyance , follow the deemed conveyance route
2)      Property Card (PR Card):

Property card should reflect the ownership in society 
name , if it doesn’t reflect even after obtaining 
conveyance please visit your city survey office of your 
ward and get it corrected.

3)      Obtain Fresh Property Card (PR Card):

Get the latest PR card duly certified from your city 
survey officer with plot area in figures and words.

PR Card is valid only for a year
Property Card Offices 
4)      City Survey Plan :

Obtain the latest City Survey Plan of the property from 
your City Survey Office
5)      Renewal of Lease :

In case your lease if over or to get over soon when the 
plot is lease hold , get the lease renewed
Technical Documents required 
for redevelopment of society :
1)      OLD BMC plan of existing building :

Check your society records if you have an the old BMC 
of your existing structure which your developer would 
have submitted at the time of construction
This will help you ascertain the carpet area of your 
existing members 

If your society doesn't have the document’s visit your 
BMC office ask them to search through the records
2)      Physical Survey of plot and flats :

If there is dispute in terms of carpet area and plot size , 
please get the plot surveyed and flat measured 
through a licenced surveyor
3)      DP Remarks :

Obtain the fresh DP remarks of your plot from your 
local BMC

4)      Structural Audit :

Obtain a fresh structural report of your existing 
structure to ascertain the durability and longevity and 
carry out the required repairs and restorations as 
suggested by your structural consultants
Neeta Shah
Neeta Shah 
Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 
Shop No. 2 & 10 , Shailesh Apartments, Borivali West, Mumbai – 400103, India

Saturday, October 19, 2013

What is deemed Conveyance?

 What is  deemed Conveyance?
The Builder/ Developer is legally required to convey the 
land and the building within 4 months of  formation to  
the society or  any legal body of the flat purchasers.  
However, it has been the experience that many 
Builders/Developers have not conveyed the land and 
building to the legal bodies. Therefore, government has 
amended the Maharashtra Ownership Flats 
Act, 1963 (MOFA) and provided for the deemed 
conveyance in favour of the legal bodies. Under the 
provision, deemed conveyance means after the expiry 
of 4 months of formation of the legal body, the land and 
building is deemed to have been conveyed to the legal 
body and to bring the same in the revenue record, a 
Competent Authority has been designated 
who will hear the parties on the basis of applications 
received from the aggrieved party and transfers the title 
in favour of the legal body by passing the necessary 
order and deemed conveyance certificate and appoint 
an authorized officer to execute the conveyance deed 
in favour of the society and execute on behalf of  non 
co-operative builder or the land owner. Getting the title 
of land and building by adopting the above procedure is 
known as deemed conveyance.
 Documents needed for deemed conveyance.
i) The registered Agreement for sale entered into with the             
promoter/opponent party
ii) 7/12 Extract and Village form No.6 (Mutation entries)
iii) Property card,
iv) Location Plan
v) City survey plan  or survey plan from the revenue department.
vi) Layout Plot plan approved by the local authority
vii) Architect certificate about the entitlement of 
undivided interest in the entire Layout Plot, common 
areas and the facilities by each of the entity or the 
structure constructed or to be constructed on such 
Layout Plot.
viii) Latest Title and Search Report for last 30 years 
from an advocate,
ix)  Non-Agricultural Order
x)   Certificate under Urban Land Ceiling Act, 1976
xi)  Building/ Structure Plan approved by the appropriate        
xii) Commencement Certificate,
xiii) Completion Certificate,
xiv) Occupation Certificate,
xv)  List of  Flat Purchasers
xvi) Proof of payment of Stamp Duty
xvii)Proof of Registration, etc. ,
xviii)Development agreement  or power of attorney or 
agreement for sale executed by the landlord with the 
promoter for development or for transferring the right, 
title and the interest in the land in favour of the 
xix) Any other land or building related documents 
papers in support of the application.
xx) Legal notices send to the Promoter and other 
interested parties to execute the conveyance deed or 
declaration as provided under Maharashtra Apartments 
Act, 1970 in favour of the applicant/s.
xxi) Draft conveyance deed / Declaration proposed to 
be executed in favour of the applicant.
Neeta Shah
Neeta Shah 
 Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 
Shop No. 2 & 10 , Shailesh Apartments, Borivali West, Mumbai – 400103, India 

Monday, October 14, 2013

Points Included In Redevelopment Agreement


Development Agreement with Developer

         The managing committee of the society, on passing of the resolution of appointment of developers at the Special General Meeting shall execute the development Agreement within one month of date of the said resolution, with the selected developer on the basis of terms and conditions approved by the members in the Special General Meeting under the consultation and guidance of the Architect/Project Management consultant. The Development Agreement shall contain other terms as under in addition to the terms and conditions recommended by the Architect, Project Management consultant(PMC) and the approved Special General Meeting.
  • Redevelopment of the building shall be completed within two years and not later. In particular circumstances it may take longer but shall not exceed 3 years.
  • The Developer shall provide a Bank Guarantor of 20% of the total cost of the redevelopment Project.
  • The Developer shall make provision for temporary alternate accommodation in the same area for the members who will be vacating the premises or shall make provision for monthly rental plus deposit to be paid to all the members of the society if they so agree or shall make provision for temporary alternative accommodation in the Transit Camp.
  • Development agreement shall be registered under the Registration Act, 1908.
  • New members, on completion of the project shall be admitted in the Special General Meeting. As members of the society.
  • Agreement must specify the carpet area to be given.
  • Rights to the redeveloped building of the society given to the builder are not transferable.
  • Flat owners shall vacate the premises only after obtaining all legal documents and permission of the competent Authority for redevelopment of building.
  • In case of one who is in possession of flat/premises and who is owner of the same, his right of ownership shall not be disturbed.
  • If there arises any dispute in the redevelopment of building agreement executed by the developer, Architect and society, it shall be resolved under the provisions of Section 91 of Maharashtra Co-operative Societies Act, 1960 and such provision shall be made in the development agreement.
           Allotment of flats in new building

Allotment of the flats shall be given in the new building in the same manner in which the original flats were i.e. the floor; the location shall be allotted after the receipt of occupation certificate. If it is necessary to flats by a lot system, it shall be allotted accordingly but only after completion of building which is ready for occupation and members are ready and willing to occupy their premises. Allotment shall be done in the presence of an authorized officer of the Register. The developer shall make arrangement for video recording of the same.

           Sanction plan of new building

         Sanction plans shall be obtained from the Municipal Corporation or Competent Authority who has the right to sanction the plans and shall be put before the special General Meeting. If any member wants to have any certified document, he shall make an application and shall also pay the requisite amount for a copy of the document to the secretary of the society; the Committee shall be responsible for providing required information to the members.

         New members, Funds Etc.

         Additional members who have purchased new units in the redeveloped building/s should be made new members in the existing society. The Registrar concerned is to be informed (as soon as the development agreement is signed) of likely new members as soon as all the formalities are completed. The co-operative department should be given the full membership list with particulars. 
             New Share Certificates should be issued to the incoming members. The additional area and revised flat area should be accurately incorporated in the existing records of the society.

       Funds of the Society

         The existing sinking fund belongs to the old members as Sinking Fund Certificates have been issued to them. Other Funds can be mutually agreed upon and distributed or equivalent contribution as one-time payment can be obtained from new members so that equality is maintained.

Aasha Realtors - Neeta Shah
Aasha Realtors Neeta Shah 

Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 
Shop No. 2 & 10 , Shailesh Apartments, Borivali West, Mumbai – 400103, India

Thursday, October 3, 2013

Making Decisions Makes All the Difference

Making Decisions Makes All the Difference
The one thing that you truly control in life is your own decisions.

“When you don’t make decisions, life will choose for you.”

Make sure that you exercise your ability to choose. Otherwise, life will make those choices for you.

Here are 10 Reasons You Need to Make a Decision Today:

1. You May Not Get Another Chance – Sometimes opportunity only knocks once. Don’t let an option pass you by because you don’t make a timely decision.

2. You Can Change Your Mind – Don’t let the fear of making a wrong choice paralyze you. There are very, very few decisions in life that are not changeable. Your degree, your job, where you live, even your relationships. You can choose again.

3. It’s Not That Important – As well, there are very few decisions in life that are truly that important. Don’t let perceived importance scare you from choosing.

4. Not Making A Choice is a Choice – When you don’t choose for yourself, life will choose for you. Ironically, too many people make their decisions by not choosing.

5. A Good Decision Beats a Perfect One – To re-phrase a famous quote, a good decision now always beats a perfect one later. Don’t wait to make a choice that may pass you by.

6. Choosing is a Privilege – It is the one thing that you control in your life. Make sure you choose your own path.

7. Other People’s Decisions Are Not Your Own – Make your own choices. Live your own life. Otherwise, you will look back and realize that you are living someone else’s life and priorities.

8. Inaction Leads to a Boring Life – Some people choose not to make decisions because they think it is easier. They tell themselves that it is less stressful if they don’t choose. This may be true, but it is also boring. It is uneventful and lazy. Be bold in your decisions and live with the good and the bad.

9. There is Never a Perfect Time – Don’t wait for the right time. There isn’t one. There is never a perfect time… just time.

10. Today Always Beats Tomorrow – Today is the only day you have. Tomorrow is only a promise and may never come. Dream for tomorrow, but live for today. Make your choice and do it now.

aasha Realtors- Neeta shah
Neeta Shah 
Contact :  Aasha Realtors :
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 /  022 - 28906363
Mobile :-Neeta- 9821411063 
Skype Id :- neeta.shah30 
Shop No. 2 & 10 , Shailesh Apartments, Borivali West, Mumbai – 400103, India