Hi, I purchased a redevelopment property from a builder two years ago in Mumbai. I signed two agreements at the time of sale for a single flat. The flat numbers are 01 and 02. I don't know how the builder was able to create 2 flats and sell them as one but he has done this for all the houses in the building. The flat is combined structurally so in future I must sell 01 and 02 together as the entrance to the flat is the same. I got the share certificates for both the flats with 10 shares each. However, for flat number 01 the share certificate number is 5 and the shares are from 41 through 50. For flat number 02, the share certificate number is 14 and the shares are from 131 through 140. The share certificate numbers and share numbers are not in a sequence. Is this acceptable? I couldn't fine anything related to the laws around certificate numbers and share numbers. Please advice.
The share certificate numbers and share numbers should be in sequence
2) ask society for an explanation in this regard
3) Model bye-laws state that, “Share Certificate, prescribed in bye-laws, bearing distinctive number and indicating the name of the member, the number of shares issued and the value paid thereon, shall be issued by the society to every member for the shares subscribed by him, within a period of six months of the allotment of the shares.”
Thank you, Ajay, for a prompt response. I bought this flat directly from the builder who is now not answering my calls! What are my legal options in this regard? Lastly, is there a reason for the share certificates and share numbers to be in sequence. Thank you, again.
Generally share certificates are in sequential order
it is proof that you are registered owner of the shares in housing society
complain to registrar of society that while share certificate has been issued to you they are not in sequential order
Verify the sanctioned plan as to how many flats are sanctioned in building. If one flat is divided into two that as not regular. If the flat is one numbers of share certificates should be continues not broken. In all probability, creation of two flats is illegal as there is only one entrance.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You cannot sell any one portion of the flat is one unit, flat covered by all share certificates will be treated is one. The broken serial of share certificates though not illegal but it odd.
You did a mistake by purchasing this falt without consulting an advocate.
Anyway when it is done then all of you sit together and resolve the issue of serial numbers of share certificates which must be in sequence.
Otherwise lodge complaint with the Registrar of Society.
it does not matter
it seems the builder in order to extract more money from the flat purchasers, combined the 2 flats into one, whereas as per the sanctioned building plans, they would be two separate and independent flats only
as share certificates are issued for both the flats separately, the number or the sequence does not matter in my view
if you want to sell the flats in future, you can sell them independently and separately in my view since there are 2 registered agreements for sale
you would have to build a partition wall between the two flats and also make two separate entrances, which can easily be done by intimating the Municipal Commissioner about such change. In many cases people do not even intimate since the construction of a partition wall to create 2 flats out of 1 does not consume any FSI i.e. the total carpet area of the 2 flats will remain the same except for a minor change due to the area covered by the partition wall, which if its a single brick wall would not be that much
Dear Sir,
1) The share certificates issued are usually always in order, as in your case the builder seems to have made some changes to sell two facts as one the change of sequence might have happened.
2) You should make a complain to the registrar of society and intimate him about the same. As the share certificate may lead to problems if you wish to sell the flats individually.
Thank you
- Purchase of a Flat and purchase of shares are two independent conditions but both must be fulfilled if one wants one or more flats in a CHS.
- Hence, as the two separate share certificates are issued for two flats purchased by you , then it is not mandatory to be in sequence to each other .
- Further, as you have signed two agreements at the time of sale for a single flat, then you will not face any trouble at the time of selling the flat separately or even jointly.
- However , if you will joint the two flats as one , then it will considered as one unit .
- You can lodge a compliant against that builder for selling two flats as one before the Registrar.
The subject of share certificate and the sequences of the numbers allotted are the administrative functions of the society, hence you may have to enquire about the reason/procedure/modality or even bylaws governing this situation from the society only.
You may not get any answer through internet how much ever you may try.
Until nd unless you do not have any major grievance in this regard you do not have to worry about it especially if you possess the registered title document.
In fact you can get the details to some extent from the registered deed itself, hence you may once again peruse the registered document fully and properly to get a clue.
You have repeated the same question once again.
Societies try to dot the i’s and cross their t’s when it comes to record-keeping and paperwork but there are some hits and misses every now and then. Many societies forget to (or simply don’t know that they have to) issue share certificates to their members on time. While your sale deed is the proof that the property has been legally transferred in your name, a share certificate is a legal proof that you are the rightful owner of the co-operative housing society’s shares. It is the duty of the managing committee to issue share certificates after due diligence.
A share certificate is a legal certification given by a housing society that a certain member is the registered owner of shares in the cooperative housing society.