Pune Housing Societies May Get Ownership Of Land

PUNE: Consumer activists and members of housing societies have welcomed the government’s recent intention to implement the three-year old amendment to the Maharashtra Ownership Flats Act 1963.
The amendment makes it mandatory for builders to transfer ownership of land to the respective society, in the form of a conveyance deed. The penalty for errant builders, as per the new amendment, could go upto a year’s imprisonment and a fine of up to Rs 50,000.
Considering the fact that a sizable number of the 30,000-odd housing societies in Pune lack a conveyance deed, citizens say the implementation comes not a moment too soon.
Source