As sources say govt is contemplating repealing law that allows societies to obtain ownership without developers’ intervention, experts see red
With the state government contemplating the repeal of the Maharashtra Ownership of Flats Act (MOFA), 1963, the fate of over 1.25 lakh registered co-operative housing societies in the state seems to hang in the balance. The repeal of the law may impact the future redevelopment of societies where the conveyance or deemed conveyance procedure has not been initiated. A conveyance deed is a vital document that transfers the ownership of a building and the plot on which it is built from a developer or landowner to a society.
https://www.mid-day.com/mumbai/mumbai-news/article/maharashtra-govt-mulls-repeal-of-mofa-fate-of-over-1-25l-co-op-housing-societies-uncertain-23247502
Source: Mid Day
