Registration of Deemed Conveyance
On receipt of the Deemed
Conveyance Order, the Deemed Conveyance Deed between the Competent Authority
& the Society is prepared. The Competent Authority appears in the Deed on
behalf of the defaulting Land Owners & Property Developers.
The Deemed Conveyance Deed is
submitted to the Office of Competent Authority for Approval & their
Signature with Authority Stamp & Seal.
The Special General Body of the
Society is called to approve the Deemed Conveyance Deed & to nominate 3
Members of the Society to sign the Deed.
The Deemed Conveyance Deed is
executed by the signature of the Competent Authority & the signatures of
the 3 nominated Members of the Society.
On execution of the Deemed
Conveyance Deed, it is forwarded to the District Stamp Office for Adjudication.
If all the Members of the Society have paid the Stamp Duty on their respective
Flat/ Shop Agreements & there is no balance FSI, the Deemed Conveyance Deed
attracts only Rs. 100/- Stamp Duty. The Stamp Office issues the Adjudication
Certificate.
On receipt of the Adjudication
Certificate, the Society pays the required Stamp Duty & gets the Deemed
Conveyance Deed Franked from local Bank.
After Franking of the Deemed
Conveyance Deed, the same is submitted to the Registration Office for
Registration. The Registration Office issues a notice to the Land Owners &
Property Developers to verify whether they have received any Stay Order from
Proper Court against the Deemed Conveyance Order.
The Proper Court for issuing the
Stay Order against the Deemed Conveyance Order is High Court. It is very
difficult for the Land Owners & Property Developers to obtain the Stay
Order from High Court against the Deemed Conveyance Order.
If there is no Stay Order
received, the Registration Office Registers the Deemed Conveyance Deed. The
Competent Authority is exempted from appearing for the Registration & hence
the 3 Members nominated by the Society only appear for Registration.
After Registration of the Deemed
Conveyance Deed, the Registration Office issues the Scanned Document &
Index II typically within 15 days.
The complete Procedure of
Registration of Deemed Conveyance Deed is typically completed within 3- 4
Months.
On receipt of the Index II, the Registration Process of the Deemed
Conveyance Deed is successfully completed & the Society becomes the owner
of the Land & Structure.
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