Can the builder execute a conveyance deed after a long time? My grandfather bought a property in 1986 in Mumbai with a total of six flats. Developers own 3 flats and 3 flats he sold to different individuals. The agreement is not registered and stamp duty is not paid because we don't have enough members to form a society. Is the conveyance deed possible without builders' help?
Minimum seven members are mandatory for the formation of housing society in Maharashtra. There are only six flats and four members in your apartment. It is impossible for your builder to form a housing society.
Therefore, your grandfather should not have been waiting for the forming of society to get execution of a sale deed. You should force the builder to execute a sale deed or file a declaratory suit.
Can the builder execute a deed of conveyance?
Yes the builder has no other option except to execute a deed of conveyance. You have been living there since 1986. More than thirty four years have gone and your builder has not raised any objection against your possession. Your possession for such a long period is enough to get a declaration of your ownership.
In the course of a declaratory suit and getting a decree of the court you can compel your builder to execute a sale deed. In your case the sale deed is a mere legal formality but it is necessary to retain your ownership in case of demolition or redevelopment of property.
Thus in this scenario you should compel the builder to execute a sale deed and give fifty percent share in the property. It is your right to get a share certificate because the valuation of your flats are deteriorating day by day. But the valuation of property is increasing. Hence, get fifty percent share in the property either by share certificate or inserting the terms in the sale deed.
