Sale deed of cooperative society

No house/flat/site,etc shall be transferred to a member by way of share transfer certificate or any other mode other than by registration.So,you get sale deed executed by said co operative housing society in your favour and get it registred paying proper stamp duty and registartion fees as applicable under the Registration Act1908.

Thanking you,  

No house/flat/site,etc shall be transferred to a member by way of share transfer certificate or any other mode other than by registration.So,you get sale deed executed by said co operative housing society in your favour and get it registred paying proper stamp duty and registartion fees as applicable under the Registration Act1908.

Thanking you,  

Hi 

You should ask the builder for the sale deed and get the sale deed executed by the builder in your favour by paying appropriate stamp duty. since it appears that you are in possession of the property since 1997, the builder should not have an issue in getting the sale deed executed in your favour. 

The information which you have submitted is incomplete. Please furnish the following:

In which State and city is your Co-operative Housing Society? There are several ways in which a co-operative housing society is formed. In Maharashtra there are Open-plot type and Flat-type co-operative housing societies. In the first case a group of persons form a co-operative housing society. The co-operative society purchases a plot of land. There with stamped and registered deed for the purchase of the land. The deed will be in possession of the Society. At the most one can get a certified copy of the document.  After purchase of land,  the Society entrusts the construction of the building to a builder or a contractor. There will be neither stamp duty nor registration for this activity. After the building is constructed, the Society allots flats to individual members. There will be neither stamp duty nor registration for this activity either.

In the case of flat-type societies a builder purchases land and constructs building over it. There will be stamp duty and registration for this transaction. The builder sells flats before, during or after construction of the building. There will be stamp duty and registration for this deed. The purchaser will pay the stamp duty and the registered sale deed will be in his possession after execution.

There are in-between variations between these two extreme types of cases and whether a flat owner will have a stamped and registered document with him will depend on the history of formation of the society and acquisition of flats by flat-owners. Hence an answer or advice can be given only if you give complete and accurate history of formation of your Society.

The officials in banks  do not know what all I have written above.  Taking possession of documents before advancing a loan is a ritual for them and they do not know  the fundamental need behind it. They just go by the Rule Book. That is the problem.

You answer all my questions and I shall see whether there is a solution.

Hello Experts,

First of all i would like to thankful to you for giving the reply.

I have a possession of the property in 1997. the builder purchase the land and building in the name of Co-operative society. 

After that Society give us the authority and right to owner of flat as being the member of the society.

So Now i want to make sale deed of it .

What i do for that? 

You have still not stated in which State and city your Society is. Can you not give complete information in one stroke? Why do you give information bit by bit? In the absence of complete information things give wrong picture. If you want sound advice give complete information in detail. Co-operative law differ from State to State. Hence no advice can be given unless you state in which State and city you are situated.

What is the meaning of "builder purchased the land and building in the name of the Society? Who purchased, the builder or the Society? In whose name the sale deed has been made? Who is the seller and who is the purchaser of the property, particularly the building in the sale-purchase deed? Were you a member of the Society at the time of purchase of the property? Under whose name the share certificate has been issued, the Builder or the Co-operative Society?  You clearly answer each of the above questions. If possible also send scanned copy of the sale-purchase deed of the property and the share certificate.  As I have already stated, things very much depend on the history of formation of your Society. If you were allotted the flat in 1997, things would have started much earlier. Hence narrate the history from the very beginning.