Pune Property

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.
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Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings. Woodsville in Moshi is another highly successful PCMC-based township by Pharande Spaces which is now in its 3rd phase.

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