Misleading News - Conveyance Deed cancelled
Dear Esteemed CHS members ,
The Whtsapp post with caption Conveyance Deed Cancelled is viral these days and it's painful to see that rather than creating the awareness , the CHS members are misguided and misled by the incomplete news without having any authenticity or support of the GR, Circular, Notification etc .to that effect.
The CHS members inturn get panic or anxious to know and keep on circulating the same creating more mess and this shows nothing but the lack of knowledge and lack of inclination to gain the correct knowledge .
Let's understand what the Property Card is all about and what the cabinet decision talks about this individual property card.
👉The original cabinet decision related to recording of ownership details of individual flat in Property card is of August 2019.
👉Land Records are updated through mutation entries in Property Card in urban areas or through 7/12 Utara in Rural areas .
👉We may call this as Horizontal Property Records . So basically these PR card entries are about the ownership of land .
👉What about ownership of Structure that is created on these lands ??
👉The cabinet decision of August 2019 aims at first-ever initiative in India to record the ownership details of each and every flat, building and commercial complex .
👉So the cabinet decision is talking about a path breaking decision of updation of Vertical property records in the form of Supplementary PR cards.
👉This move is going to benefit to the home buyers who can trace the ownership of the flat through these Supplementary PR cards and satisfy themselves before buying the flat .
👉This move is beneficial for the financial institutions who are facing fraudulent transactions of multiple mortgages getting created against the same property .
👉This path breaking initiative will ensure that all the city survey offices in urban areas and the collectorate offices in rural areas will have records of the individual flats as well alongwith the land records
👉Beware , that this cabinet decision is nothing to do with conveyance or deemed conveyance of the land and hence conveyance is cancelled is fake and misleading.
👉The land owner has to convey the land in the name of the housing society and the builder/developer has to convey the title of building in the name of CHS and these are the provisions which are there in MOFA Act and RERA Act as well..so do not get misguided.
👉 Your society still has to go for the conveyance because that is what your object clause says of the Model Bye laws. 👉The misleading information is circulated to create confusion and see to it that conveyance which is crucial for a CHS to get ,will not be thought of and postponed by the CHS due to this baseless news, so please do not get misguided.
👉Conveyance provision is in MOFA Act, it is in MCS Act, it's part of Model Bye laws , RERA Act and hence if it has to get cancelled then first al these acts needs to be amended .
👉So, friends please understand the implication of Conveyance, seek professional help on this, do not get carried away by the misleading post , do not circulate if you yourself is not sure.
👉Conveyance or Deemed Conveyance provision is not cancelled.
👉Let's gain knowledge to get empowered.
👉Let's use social media to create awareness and clarity rather than creating confusion and mess.
👉Lets co-operate in the new initiatives and let's enjoy the Cooperatives.*
👉Any clarification related to this news, related to conveyance of your society or any coop matter pls feel free to reach us on chsmatter4cashilps@gmail.com or call up on 9820053395/53495 pls.
👉Land Records are updated through mutation entries in Property Card in urban areas or through 7/12 Utara in Rural areas .
👉We may call this as Horizontal Property Records . So basically these PR card entries are about the ownership of land .
👉What about ownership of Structure that is created on these lands ??
👉The cabinet decision of August 2019 aims at first-ever initiative in India to record the ownership details of each and every flat, building and commercial complex .
👉So the cabinet decision is talking about a path breaking decision of updation of Vertical property records in the form of Supplementary PR cards.
👉This move is going to benefit to the home buyers who can trace the ownership of the flat through these Supplementary PR cards and satisfy themselves before buying the flat .
👉This move is beneficial for the financial institutions who are facing fraudulent transactions of multiple mortgages getting created against the same property .
👉This path breaking initiative will ensure that all the city survey offices in urban areas and the collectorate offices in rural areas will have records of the individual flats as well alongwith the land records
👉Beware , that this cabinet decision is nothing to do with conveyance or deemed conveyance of the land and hence conveyance is cancelled is fake and misleading.
👉The land owner has to convey the land in the name of the housing society and the builder/developer has to convey the title of building in the name of CHS and these are the provisions which are there in MOFA Act and RERA Act as well..so do not get misguided.
👉 Your society still has to go for the conveyance because that is what your object clause says of the Model Bye laws. 👉The misleading information is circulated to create confusion and see to it that conveyance which is crucial for a CHS to get ,will not be thought of and postponed by the CHS due to this baseless news, so please do not get misguided.
👉Conveyance provision is in MOFA Act, it is in MCS Act, it's part of Model Bye laws , RERA Act and hence if it has to get cancelled then first al these acts needs to be amended .
👉So, friends please understand the implication of Conveyance, seek professional help on this, do not get carried away by the misleading post , do not circulate if you yourself is not sure.
👉Conveyance or Deemed Conveyance provision is not cancelled.
👉Let's gain knowledge to get empowered.
👉Let's use social media to create awareness and clarity rather than creating confusion and mess.
👉Lets co-operate in the new initiatives and let's enjoy the Cooperatives.*
👉Any clarification related to this news, related to conveyance of your society or any coop matter pls feel free to reach us on chsmatter4cashilps@gmail.com or call up on 9820053395/53495 pls.
CA Shilpa Shinagare
President- V Indus Societies Welfare Association (VISWA)
Empowering Cooperatives through Education !
President- V Indus Societies Welfare Association (VISWA)
Empowering Cooperatives through Education !
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