Ownership

pushkar nehete (Querist) 24 September 2014 This query is : Resolved
Respected Members,
A,B,C and D are the owner of one land where each person have a equal undivided share in the said land. A,B,C and D are making constructing the 4 storied building for residential purpose in Maharashtra, Now Question raised that, 'A' Want ownership of Unit situated at 1st floor, 'B' Want ownership of Unit situated at 2nd floor,'c' Want ownership of Unit situated at 3rd floorand 'D' Want ownership of Unit situated at 4th floor.
1) whether Declaration under Maharashtra Apartment Ownership Act, 1970 shall be registered by A,B,C and D ?

2) Whether after Declaration, A B C and D have to make partition deed for their UNITS?

3)Whether A,B,C and D have to execute seperate Deed of Apartment in favour of each one for said UNIT/s

4) what stamp duty will be applicable in this case?

or any other way/documentation is there to to confirm their Ownership Rights regarding Said Residential Units situated at 1st to 4th floors?

Regards Pushkar Nehete

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ABDUL RAZIQUE (Expert) 26 September 2014
when ABCD are owner of land and they construct a building upon said land for self residential purpose. it is not mandatory to execute a deed infavour to each. only a settlement deed may be registered.

Biswanath Roy (Expert) 26 September 2014
A registered mutual partition deed is needed to enable each unit holder to transfer their respective unit to some other party if needed in future.