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Flat owners facing sale deed hurdles pin hopes on cooperative societies bill, Real Estate News, ET RealEstate

Flat owners facing sale deed hurdles pin hopes on cooperative societies bill, Real Estate News, ET RealEstate
PANAJI: A prominent professional operating from a commercial premises that he purchased in the city around 25 years ago has still been unable to get a sale deed registered in his name because the builder of the structure has thwarted all his attempts.

Incidentally, several complaints similar to his have been pending before the registrar of cooperative societies. In many instances, buyers have been unable to register a sale deed for a flat/shop they purchased some years ago either because the builder is not alive or he is unwilling to initiate the process. The recently passed Goa Cooperative Societies (Amendment) Bill, however, is set to improve the fate of such property owners.

The bill has a provision for enforcement of title in the name of the member.

It also empowers a registrar to appoint any of his empanelled nominees to decide on a dispute arising in the housing society concerned within the meaning of section 83 of the Act.

An official at the registrar’s office said every zone will have a competent authority to address grievances of property owners, clear long-pending cases and facilitate execution of a sale deed after authentication either by way of a sale agreement or share certificates.

“It will take us at least two years to dispose of pending complaints,” the official said.

Recounting his ordeal, the Panaji-based businessman said that although he has been pursuing the builder for several years to execute a sale deed for his commercial premises, the latter has kept citing several excuses.

“There are a few like me in the building who are yet to get a sale deed done. If the builder still refuses, I will go to court,” the businessman said.

An official said that in the past, some people refrained from executing a sale deed just to evade payment of stamp duty and other expenses linked to the process. This favoured builders as they continued to have right of ownership of the construction and could use open spaces — especially parking lots — and erect structures by bypassing opposition from the housing society concerned.

With section 104A added to the Act, all existing co-partnership cooperative housing societies will be converted to co-ownership cooperative societies.

After conversion, the rights of the co-partnership cooperative housing societies shall stand transferred, along with encumbrances and liabilities, to the members of the co-ownership cooperative hosing society as per their proportionate shares.


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Written by Realty Beat

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