Section 21 in The Maharashtra Housing and Area Development (Estate Management, Sale, Transfer and Exchange of Tenements) Regulations, 1981
21. Allotment on basis of deferred payment, allottees to form society or company or Association.
(1)Unless otherwise specially decided by the Authority, as soon as the minimum number of persons required to form a housing society, or a company or Association, as the case may be, have taken possession of the tenements and in any case not later than three months after the final allotment, such persons shall submit an application -(a)to the Registrar of Co-operative Societies for the registration of the allottees as a housing society, or(b)to the Registrar of Companies for forming a company of the allottees under the Companies Act, 1956, or(c)to the Board requesting that the Authority as owner of the building may, after all the allottees have paid the full purchase price of the tenements allotted and the Authority has no objection to convey the building to the apartment owners, submit the building containing the tenements allotted to them, and the land underneath and appurtenant thereto (hereinafter collectively referred to as the property), to the provisions of the Apartment Act with the condition that the Authority shall grant a lease of such land to the apartment owners on the terms and conditions of lease being disclosed in the declaration either by annexing to the Declaration a copy of the instrument of lease to be executed or otherwise.(2)Every application under clause (1) shall be accompanied by a 'No Objection Certificate' from the Board to the effect that the Board has no objection to forming a housing society or a company or to the submission of the property to the provisions of the Apartment Act.(3)The allottees, shall, after the application is made under clause (1), take all steps to get themselves registered as a housing society, or company, or as the case may be expedite the Board to submit the property to the provisions of the Apartment Act, as provided in sub-clause (c) of clause (1) of this regulation and on the formation of the housing society or company inform the Board, accordingly. Where the property is to be submitted to the provisions of the Apartment Act, the Board shall expedite the Authority for such submission, and proceed to take all necessary steps under that Act.(4)On the formation of the housing society or company, the Board shall arrange to lease the property to the housing society or the company and in any other case, the Board shall lease the tenements in the building to each allottee where the allottees have expressed desire to submit the building to the provisions of the Apartment Act, and thereupon, the society or the company or the allottees shall hold the property, or as the case may be, the land and the tenement purely as tenants of the Authority, until all the allottees have paid the full purchase price of the tenements and all other outstanding dues, if any, to the Authority, and the property is duly conveyed to the housing society or company or to the Association :Provided that, where the allottees have paid the full purchase price and there are no outstanding dues due to the Authority, and the property is [* * *] [The words 'not yet' were deleted by G. N. of 20.11.1982.] duly conveyed to the society, company or Association, as provided in this regulation, the tenancy executed in favour of the housing society, company or allottees shall stand terminated and the building shall cease to be Authority premises and the housing society or company or the allottees, as the case may be, shall hold the building as owner thereof subject, however, to the condition that the land beneath and appurtenant to the building shall be held on lease from the Authority as provided in these Regulations.(5)The housing society, the company, or as the case may be, the allottees shall hold the property on lease duly executed in that behalf as tenants of the Authority and till the lease is in force, the property shall remain as the Authority premises subject to the provisions of the Act.(6)After the entire amount due from a housing society, company, or as the case may be, allottees in respect of the tenements, in a building or group of buildings is paid to the Authority, the Chief Officer, shall without undue delay take steps to convey the building to the housing society, the company or the Association with its right, title and interest in the building containing the tenements, and lease to it the land underneath and appurtenant thereto and execute the necessary document in that behalf and deliver all documents of title relating to the building aforesaid and of the lease of land aforesaid to the housing society, the company or the Association, as the case may be.(6A)[ Notwithstanding anything contained in the foregoing provisions of this Regulation or clause (2) of Regulation 4, but subject to the provisions of any municipal or planning law for the time being in force, the Authority may; if the circumstances.so require, in the case of tenements in a single storeyed building constructed by the Board and disposed of on an out-right sale basis or hire-purchase basis, direct the Chief Officer to take steps without undue delay, after the entire amount due from all the allottees in the building is paid to the Authority,-(i)to convey the tenements in such a building to the individual allottees thereof with its right, title and interest therein;(ii)to lease to them the land underneath and appurtenant to their respective tenements; and(iii)execute the necessary documents in that behalf.](7)[ All charges including stamp duty and registration fees to be paid in respect of the documents referred to in clause (6) or clause (6A) shall be borne by the housing society, company or the Association, or the allottee, as the case may be.Explanation. - In sub-clause (c) of clause (1) the expression "Declaration" has the meaning assigned to it in the Apartment Act.] [Clause (7) was substituted by G. N. of 27.11.1984.][Part III-A] [Chapter III-A was inserted by G. N. of 20.11.1982.] Allotment of Commercial Tenements
