Afternoon D & C Dedicated To Mumbai
Home > Property > Learn about stilt parking ownership in society

Learn about stilt parking ownership in society

Saturday, February 17, 2018
By Ramesh S. Prabhu

Q. What is Stilt Parking Ownership in Society?
A.
As per the Maharashtra Ownership Flats Act, 1963, the stilt, podium, covered, open and all types of parking are the property of the society on its registration and the society gets the right to allot and regulate the parking as per the provisions of the registered bye-laws of the society.  However, as per the Maharashtra Real Estate(Regulation and Development) (Registration of real estate projects, registration of real estate agents, rate of interest and disclosure on the website) Rules, 2017, (MahaRERA Rules) the promoter or the builder has the right to sell the covered car parking which means the stilt, mechanical, podium, basement,etc. However, the open car parking cannot be sold under MahaRERA  Rules.  Such open parking becomes the property of the society on its registration and the society will be able to allot such car parking.

Q. What is the difference between Maharashtra Apartment Ownership Act 1990, Maharashtra Ownership Flats Act, 1963, and Maharashtra Co-operative Societies Act, 1960. And, why is Maharashtra Co-op. Societies Act the only popular vehicle used for registration?
A.
The Maharashtra Ownership Flats Act, 1963(MOFA, 1963)  is an act implemented in Maharashtra since 1964, to regulate the builders who used to construct and sell the flats to different flat purchasers. The act provides for various obligations to be fulfilled by the developer in the real estate project such as formation of legal entity to manage the affairs of the complex after the building is completed and the possession is handed over to the purchasers. The bear minimum amenities are to be provided in the complex and then convey the land and building in the name of the legal entity formed for the management of the complex.

Section 10 of MOFA, 1963 provides that the promoter (Builder) should make an application to form the co-operative society as soon as he sells the minimum members required to form the society. In case, the flat owners want that the company or Association of Apartment need to be formed, then the builder may do so. Thus, there are three forms of organisation for management of the complex (1) Co-operative society registered under Maharashtra Co-operative Societies Act,1960 (2) Company under Companies Act, 2013 and (3) Condominium under Maharashtra Apartment Ownership Act, 1970.

In Mumbai, all the members are happy with the working of the Co-operative housing society as a popular form of legal entity to manage the complex.  

(Ramesh S. Prabhu is Chairman, Maharashtra Societies Welfare Association)

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
I am a 25-year-old man working in a call centre i
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Old, fond memories will define your mood today, which will show up in the manner in which you deal with work, where your mellow side will be visible to others. You are also circumspect with money and tend towards saving it. Ganesha says people dealing in cash and money-lenders will benefit.
- Advertising -
For a very long time now, both Law and Management
Writer, educator and moderator Kartik Bajoria wri
Covestro, the global manufacturer of high-perform
Read More