Despite the promulgation of the Deemed Conveyance Act, developers and residents of even luxury housing complexes continue to be at loggerheads over the delay in getting the property transferred in the society's name. Under the law, a builder is required to convey the land and building within four months of its completion to the society.
But in case of Ashok Towers, a housing complex in Lalbaug, residents took possession of flats nearly three years ago but have been unable to form a society because of the developer Peninsula Land Ltd (PLL). Due to the nature of the complex and the condition imposed by the civic body at that time, a separate society would have to be formed for buildings constructed on leasehold and freehold land. Accordingly, the flat owners decided to form two societies�one for towers A, B and C situated on the freehold land, and one for tower D, situated on leasehold land.
Instead of forming two societies as per the majority owners' requirements, residents got a shock when the developer proposed to lease and not convey the land to the society. Not just that, PLL proposed to form an apex body of four residential towers, plus some shops known as Bayside Arcade and two other adjoining commercial complexes. "The sale agreement shows no mention of Bayside Arcade and further, the other two commercial complexes stand on a separate plot. We pointed this out to PLL, but they had no answer,'' residents say.
Similar is the case with residents of Oberoi Splendor on Jogeshwari-Vikhroli link road, who, for the past two years are waiting for Oberoi Realty Ltd to form a society.
Residents, who shifted about a year ago at The Imperial in Tardeo, the twin 60-storey towers constructed by S D Corporation (SDC), a consortium of Shapoorji Pallonji and businessmen Dilip Thacker, are questioning the formation of the condominium of apartments without the flat buyers' approval.
ORL, PLL and SD Corporation have vehemently denied the residents' allegations. An ORL spokesperson said the developer had taken steps to form a society by May 2013. "We had even planned an election in March 2013, but those have been disrupted by a handful of residents. We have already reserved the name for the society, collected signatures, opened bank accounts and made necessary payments to RBI,'' said the spokesperson.
PLL spokesperson said the issues with the residents have been resolved and the society is likely to be formed at the earliest. SD Corporation said that rules empower a developer to form a condominium of apartments or society.
"No rules have been broken. Some members are disgruntled and raking up this issue as they lost out to become a member of the managing committee of the richest condominium body,'' said an SD corporation official.