A cooperative housing society, registered in 2007 on land leased for 99 years in 1969, is questioning if a 'deemed conveyance' is feasible. Some members believe this would officially register them as leaseholders on the property card, while others are concerned about significant costs and potential legal challenges from the landowner. An alternative suggestion is to engage a developer to purchase the plot and convert it to freehold land. The situation raises questions about the timeline of registration and the validity of the lease.