Asks Jain Builders to pay Borivli society for failing to hand over conveyance deed ………ANAND HOLLA
The Bandra consumer court, in a recent order, directed Jain Builders to shell out Rs 50,0000 as compensation to Pleasant Palace society in Borivli, for failing to hand over the conveyance deed of the property to them.
In April 2005, members of the society had moved court against the builders, claiming they were not complying with their statutory obligations.
The societys lawyer Uday Wavikar contended that though the flat owners were given possession of their apartments in 1995-96, the builder had failed to transfer all rights of the property to them.
Wavikar said, As per law, a builder is obliged to complete this execution within four months from the date of the societys registration. This judgment is a reminder to those who are in the dark about possessing the deed. Flat owners and buyers must always demand their conveyance deed from the builder, because it is their right.
Holding the builders guilty of deficiency in their services, the court asked the builders to compensate the society with Rs 50,000 and an extra Rs 1,000 towards their legal expenses. When contacted, Vikrant Narkar, lawyer for Jain builders, refused to comment.
WHAT IS A CONVEYANCE DEED
A conveyance deed is a crucial document that conveys the title of ownership of a property from the original owner (builder, developer) to the ultimate buyer (flat owner), making the flat owners the true, legal owners of the structure and the land attached to it.