Anil 21 April 2017

Flat registration

Hello, my query is : we some people around 150 together form a cooperative society and purchased the land on society name. Then we all together constructed the building and allotted a flat to each and provided the share certificate. We have not made any registration for the flats. The understanding was we only bought the land and built the building on it hence not required. Is that correct or do you see any trouble we may face due to this. Kindly request if you could share something on this would help us in great way. Thanks in advance.

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7 Replies

Praveen Kumar (Intern Lawyer) 21 April 2017

Your question is not clear. What kind of trouble you would like to know. If the land is legally approved to build the house by the concerned authority then there will not be any problem until unless any dispute will arise between the parties involved in the understanding.

Anil 21 April 2017

Thanks for your reply. I mean the we using here to form a society , buy a land and build the building and allocate the flat to each member of the society based on the society share certificate without any stamp duty or registration. Is this concept legally ok and no issue at all. Note :While we bought the land that the sale deed was made for land purchasing between land seller and society. Hope I am clear this time. Sorry for the inconvenience.

shrenik (lawyer) 21 April 2017

No dear You have to register sale deed and pay stamp duty No bank will give loan to ur soc member

shrenik (lawyer) 21 April 2017

No dear You have to register sale deed and pay stamp duty No bank will give loan to ur soc member

Anil 22 April 2017

Thanks Shrenik for your reply. But as far as loan is concerned we all have managed to get with one of the bank based on the share certificate. Apart from that do you see any issue or legal trouble as per property law. Thanks.