Hello,
We are a group of Bungalow owners in the state of Maharashtra, trying to form a cooperative society. Our Bungalows are in a gated premises. All bungalows have individual 7/12 extract. The builder has not formed a Society while handing over the bungalows to us, but a conveyance deed for a group of Bungalows have been excuted.
Now we as Bungalow owners want to form a Society. We hear that the land and Bungalow building that is conveyed to us has to be surrendered to the Society if we form one. Hence a few Bungalow owners are against this.
We want to know the specimen of declaration that we have to make in this case as an individual Bungalow owner while forming a society.
Do we loose right on the property conveyed to us by the builder? Or is it that the Society name is added to our 7/12 extract who will act as caretaker?
Clarification will help us to proceed.
Thanks in anticipation
Deepak
