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Those Who Own Mhada Flats Are Allowed to Sell Their Units Only After Five Years from The Date of Purchase. However, One Needs to Be Cautious If One Is Buying A Flat in Resale. This Is Because Usually Sellers Offer Power of Attorney of The Property and Not the Registered Deed to Sell It During the Lock-In Period. Sale Through the Power of Attorney Is Deemed Illegal, And If the Mhada Conducts A Surprise Raid, You Are Liable to Be Evicted. Obtain the original allotment letter from the MHADA on the owner's name. Also, ask for the share certificate that the society might have given to the owner and the copy of the letter in which the owner is asking to transfer the certificate. Obtain the original allotment letter from the MHADA on the owner's name. Also, ask for the share certificate that the society might have given to the owner and the copy of the letter in which the owner is asking to transfer the certificate Pay the stamp duty and registration charges. Once the property is registered in your name, you need to inform the MHADA for issuing the transfer certificate. You need to send the copy of registry papers and submit the transfer fees.
Redevelopment is the process of demolishing an existing building altogether and constructing a new one. It is a massive undertaking that requires a highly proactive and careful approach on behalf of the housing society. Let’s dive into the specifics of redevelopment and its many components If your building is at least 25 years old or in dilapidated conditions, structural repair and renovation will only increase its lifespan by 4 to 5 years. Redevelopment is a more feasible and sustainable choice for the long run. A redeveloped building offers wider, cleaner, newer living spaces for the residents. If your building is in a premium area and is slated to go for redevelopment, the market value will be even higher after redevelopment. Societies also have the provision to ask for an extra room in their apartment from the developer, thus making their living condition even more comfortable.
Society Registration Is Also Known As Society Formation Housing Societies Are Registered Under The Societies Registration Act, 1960. A Society Is An Association Of Several Individuals Combined Using A Mutual Accord To Deliberate, Govern And Act Cooperatively For Some Communal Purpose. The Main Instrument Of Any Society Is The Memorandum Of Association And Rules & Regulations. Minimum of Seven Managing Committee Members Are Mandatory For Registration/ Formation of the Society. There Is No Upper Limit For The Number Managing Committee Members. The Board Of Management Is In The Form Of A Governing Body Or Council Or A Managing Or Executive Committee.
Conversion from Residential to commercial property can be an open or exempted choice for people, depending upon the area of your residence. No one wants to grow a business or establish a commercial property without properly aligning with the prevailing law.If a person owning a Mhada property and if he wants to change its user of the said property the following person needs to approached to the office of the maharashtra housing & area development authority (mhada) and need to get the proper permission from the authority to change its user from residential to commercial