90% of Conveyance deeds still unexecuted in Nashik
The district deputy registrar of Nashik, Bajirao Shinde stated that Conveyance Deeds of over 90 per cent of properties in Nashik city are yet to be executed.
Nashik city has more than 12,000 residential societies and apartments, but records show that conveyance deeds of over 11,000 properties have not been executed. The city has a large number of cooperative housing societies which have also been flaying the rules.
The registrar warned the members of housing societies against the misuse of properties by builders, developers, promoters or by any other entity against manipulating the facilities – like transfer of development right (TDR) or additional floor space Index (FSI) allotment.
Maharashtra Ownership of Flats Act (MOFA) clearly states that the builders are responsible to execute the conveyance deeds which has not been done in practice.
To read more real estate news:
Chidambaram urges banks to put pressure on developers to lower prices
Additional FSI, Apartments, conveyance deeds, Cooperative housing societies, Floor space index (FSI), Maharashtra Ownership of Flats Act (MOFA), Nashik, societies
[...] 90% of Conveyance deeds still unexecuted in Nashik [...]
[...] 90% of Conveyance deeds still unexecuted in Nashik [...]