Please advice - I am about to purchase a resale flat in pimpri chinchwad municipal corporation area. She is the first owner and she got the possession letter from the builder in August 2013 and she is staying there since then. The building completion certificate was received in April 2014. The housing society is formed just 3 months back i.e. November 2014 and the share certificates have come just this week and yet to be distributed to the members. The society is ready to give NOC for this resale by accepting some amount. But I read somewhere that as per maharashtra housing society act 29(2)(a), the owner cannot transfer or sell his share/interest in the property before one year. So will this resale transaction be legally valid if society provides NOC? How is this one year period calculated? From the possession date or completion certificate or society formation or share allotment?
