Conveyance of land in the name of chs in mumbai?

The redevelopment agreement conditions and the sale agreement you propose to enter with the owner and the developer are to be perused to render proper opinion to your query hence better obtain a copy of the agreement and get it perused by a local lawyer and obtain an opinion in person

You consult a local lawyer with all the relevant papers for guidance as the agreement and all the relevant papers are to be verified to form an opinion.

Prima facie title (ownership) of the land is not transferred to developer and retained by Malhotra family, accordingly it is not advisable to negotiate / proceed to buy a flat in CHS.

I fully agree with the learned senior experts Mr. T Kalaiselvan and Mr. Kavksatyanarayana to show relevant documents to a local prudent lawyer before making a decision to buy a flat in CHS or not. 

Happy Diwali to all learned experts for sparing their valued time to share their basic opinion for the queries raised by querists who post their issues here. This makes the forum good and reliable platform for seeking basic guidance. Keep it up.

It appears that facts are misconceived in the light of the fact that the CHS has been registered far back in 1962. In those times, to my knowledge, the Society's had been constituted in the spirit of a cooperative society in the sense that it is the society which secured the land and the members joined together in constructing the apartment. It is a post 1980 phenomenon that the builders have been dominating the real estate.

In the given case, original CHS owns the land and the developed Society ought to be standing in the same footing.

Yes the case is really dicey and most probably the builder and Malhotra family  are taking you for a ride. As your Society was formed way back in 1962 most probably the Society would be a Tenant Co-parternershaip society under Rule 10(5)(b) of the Maharashtra Co-operative Societies Rule 1961 and the Society may be holding both land and building on leasehold basis leased from Malhotra Family. The Society may be paying rent to the Malhotra Family. The Society may have constructed the building and the flats would have been allotted to the members. Members are owners neither of the land nor of the bulding. The members hold only the tenancy rights of the respective flats and the tenancy-right is transferable. Now the Society wants to pull down the building and construct a new building probably with more number of flats, which the Society can allot to new members. This will require only a re-drawing of the lease agreement with the Malhotra Family. That will no way change the nature of ownership by the members. They will continue to be tenant-co-partners of the Society. Your society should take guidance from the Co-operating Housing Federation. They may be able to suggest good lawyers for the society.