Hi,
I am a resident in a new residential complex (RC) in Navi Mumbai, Maharashtra, developed by a reputed Pan-India Real Estate Developer (RED). The RC consists of over 15 buildings of 30+ storeys each, and the RED has handed over possession of flats in few of the buildings, which were completed and for which interim OC was received by the RED last year around Q2/H1. A vast majority of flat-owners in these select buildings (in fact, the entire RC) are investor-buyers who don't intend residing in the RC, ever. These select buildings are currently occupied by barely 1% of the total flats for which possession has been already given by the RED.
As per norms, the RED has already collected the maintenance charges for 2 years (starting mid-2017) from flat-owners before handing over possession of the flats to them. Now, the investor-buyers in these buildings wish to form a Co-operative Housing Society at the earliest, while the Flat-Owner-Residents (FOR) feel the RED needs to sort out various pending work / issues in these buildings, as it's believed that the possession of flats in these buildings were given in haste by the RED to comply with the provisions of the new laws, vide Maharashtra Housing (Regulations & Development) Act 2012, which has replaced the earlier Maharashtra Ownership of Flats Act, 1963 (w.r.t. formation of a co-operative housing society).
My query is regarding the formation of a CHS of these select buildings as below -
- Having collected maintenance charges from over 60% flat-owners in these select buildings, can the RED delay formation of a CHS till completion of the entire RC comprising of over 15 buildings, as many infrastructure & facilities setup by the RED will be common to the entire RC or block of buildings segregated as Sectors now ?
- Can a group of Investor-buyers pressure the RED to form a CHS, which is in their interest, should they decide to sell their flats (as transfer fee would be much less in a CHS setup) to form a CHS without taking consent of Flat-Owner-Residents ? Do the FORs have any say, even if in minority, to stall the process till the RED sets right the infra in the current set of buildings in occupation ?
- What remedies are available to the FORs to prevent formation of a CHS until such time the RED sets right the infra issues faced by FORs alone, as investor-buyers aren't concerned about these day-to-day inconveniences ?
Would be grateful experts share their views on the above. Thank you.
Posted as an aggrieved FOR
