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No Takers For Govt Sop For Self-Redevelopment of Housing Societies In Pune

No Takers For Govt Sop For Self-Redevelopment of Housing Societies In Pune

BY Realty Plus
Published - Tuesday, 12 Dec, 2023
No Takers For Govt Sop For Self-Redevelopment of Housing Societies In Pune

The governemnt’s plan of easing the process of redevelopment of housing societies by allowing those that go in for self-redevelopment to get deemed conveyance within a month found no takers in Mumbai and Pune from May-October this year. A deemed conveyance is a legal document that transfers ownership of land from a developer to a cooperative housing society, allowing it to develop the property further.

Under the policy announced on May 31, a housing society is required to pass a resolution that it will carry out self-redevelopment following which it can apply for deemed government redevelopment, following which it can apply for deemed conveyance. As per the new policy, the conveyance deed is to be granted within a month, down from the previous deadline of six months.

But information obtained under the Right to Information (RTI) Act shows that between May and October, 716 applications for deemed conveyance were filed in Mumbai and Pune, but not one of the housing societies opted for the self-redevelopment route. Of the 716 applications filed at the offices of the deputy registrar, 364 were from Mumbai and its suburbs, and the remaining from Pune city and rural.

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