Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

rangnath.kulkarni (nil)     14 May 2022

sale of flats in CHS Ltd. in Mumbai.

A chs Ltd.in Mumbai has 20 members.The society is 45yr.old and building needs frequent repairs.Therefore 13 members out of 20 agree to to sale their individual flats to one Construction company. Can this sale be legal and what will be status of the CHS Ltd.with 7 original members and the construction company as the new member?


Learning

 2 Replies

Kishor Mehta (CEO)     14 May 2022

There will not be any structural change in the Society. The purchaser of 13 flats will become a member of the CHS and will have the same rights as the remaining 7 members.

Dr J C Vashista (Advocate)     15 May 2022

The purchaser / builder has to seek permission from Registrar Cooperative Societies as it changes status of the Society.

All 20 members have to take a unonimous decision for reconstruction.

Before commencement of reconstruction the builder shall have to seek permission from all concerned authorities i.e., Local Development Authority; Urban Art Commission, Fire department, Airport authority etc. as per law governing the subject.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register