Realty Blogs

The state of Maharashtra has always found a sense of equity and security in the concept of cooperative housing societies for creating communities and housing societies. That said, a sizable number of societies and residents therein remain unaware that without legal ownership of land on which the society’s structures are built, they remain vulnerable to legal and financial complications. To mitigate the issue and provide a measure of relief is the “Deemed conveyance”, a crucial provision that transfers ownership rights from developers to societies, ensuring complete legal control. Thus, it is essential and urgent that people understand more about this document, its implications, and ways to obtain it to protect one’s property rights, enable redevelopment, and ensure compliance with legal mandates. Understanding the significance of a Deemed Conveyance Conveyance is the legal process by which ownership of land is transferred from the Developer to the Cooperative Housing Societies (CHS). Under the Maharashtra Ownership Flats Act (MOFA) of 1963, developers must execute the conveyance deed within four months of the society’s formation or within an agreed timeframe. This provision inadvertently tilted things in favour of the developers, with CHS and residents being left out with little legal recourse. Legal luminaries, aware of the likelihood of such a situation, had in the earliest law, the Maharashtra Cooperative Societies Act of 1960, included the provision of a “deemed conveyance” enabling societies to obtain legal ownership through a declaration by the Competent Authority- even in the absence of the builder’s cooperation. Significance of Deemed Conveyance Establishing Legal Ownership Without a valid conveyance deed, as per law, societies do not legally own their land. This situation, quite understandably, causes complications in redevelopment, mortgage loans, and approvals. Deemed conveyance takes away this uncertainty and brings much-needed legal security. Facilitating redevelopment Beyond a point, ageing buildings need urgent redevelopment. Without relevant documents to evidence ownership, societies struggle to negotiate favourable agreements and permissions. Deemed conveyance simplifies all of these processes. Protection Against Builder’s Exploitation In some cases, developers (inadvertently or otherwise) delay the issuance of conveyance deeds to retain control over a property. Deemed conveyance is the panacea that empowers societies, preventing exploitation and unauthorised claims. Ease of Property Transactions CHS members who want to sell their tenements or apply for home loans need legal proof of ownership. In the absence of a conveyance deed, transactions become tedious. The presence of deemed conveyance resolves this issue. Compliance with Legal Mandates Maharashtra Ownership Flats Act (MOFA) mandates timely ownership transfer with delays attracting penalties from developers. Deemed conveyance thus ensures societies too comply with legal requirements and avoid disputes. The Process of Obtaining Deemed Conveyance in the normal course Application Submission Societies apply to the District Deputy Registrar (DDR) of Cooperative Societies with essential documents such as the registration certificate, Index II copies, property tax receipts, and approved building plans. Scrutiny and Hearing The Competent Authority verifies documents and conducts hearings to resolve objections in a time-bound manner. Issuance of Deemed Conveyance Order If valid, the Competent Authority grants a Deemed Conveyance Certificate and executes the conveyance deed in favour of the society. Registration and Mutation The society registers the deed with the Sub-Registrar and updates land records to reflect its legal ownership. Securing a Society’s Future Through Deemed Conveyance Deemed conveyance is thus an essential for cooperative housing societies (CHS) in order to secure their legal rights, facilitate redevelopment, and ensure financial stability. Societies must proactively complete the process to protect their interests, comply with regulations, and eliminate dependency on developers. Obtaining the deemed conveyance document paves the way for future growth and security. Adv. Mukesh B. Zende B. Sc. LL.B. MBA, (Corporate Law) Patent Attorney On Record +919822268068 adv.mukessh@tosslegal.com

A Legacy of Cooperative Excellence Established on August 31, 1995, in Belgaum, Karnataka, Lokmanya Multipurpose Co-operative Society Ltd. has grown into India’s largest multipurpose, multi-state co-operative society, with an expansive network of 213 branches across Maharashtra, Karnataka, Goa, and Delhi. This remarkable growth reflects the society’s firm adherence to its founding values and philosophies of financial inclusion and empowerment. Founded by Dr. Kiran Thakur and his like-minded colleagues, Lokmanya was envisioned as a platform to empower small businesses, support young entrepreneurs, and generate employment opportunities for the youth. Over the years, the society has not only lived up to this vision but has also adapted to meet the evolving financial needs of its members, making it a trusted financial partner. Comprehensive Financial Services Under One Roof Lokmanya Multipurpose Co-op Society Ltd offers a diverse range of financial products and services designed to cater to individuals and businesses alike. These include: Investment Options: The society offers Fixed and Recurring Deposits at highly competitive interest rates, providing members with safe and reliable investment avenues. Insurance Services: Lokmanya provides comprehensive life, health, and general insurance solutions to safeguard the financial interests of both individuals and businesses. Loan Services: A wide range of loan products is available, including personal loans, home loans, business loans, education loans, and gold loans, ensuring financial support for varying needs. Mutual Funds: Tailored to individual goals, Lokmanya offers mutual fund schemes that provide market-linked returns, helping members grow their wealth effectively. Locker Facilities: To ensure the safety of members’ valuables, the society offers secure locker services, providing peace of mind. Unique Selling Proposition: Financial Inclusion with Accessibility One of Lokmanya’s key strengths lies in its commitment to financial inclusion. By offering a broad spectrum of financial products and services under one roof, Lokmanya ensures accessibility to individuals from diverse economic backgrounds. With branches across four states, it reaches urban and rural customers alike, making quality financial services widely accessible. The society’s diversification into mutual funds, micro-lending, and other financial products highlights its adaptability to the changing financial landscape, ensuring it meets the emerging needs of its members. Vision, Mission, and Core Values Lokmanya’s unwavering dedication to financial empowerment is driven by its strong vision, mission, and values: Vision: To empower individuals and businesses by providing accessible and reliable financial solutions, fostering economic growth, and promoting financial inclusion. Mission: To offer a comprehensive range of financial services catering to diverse customer needs while upholding trust, integrity, and excellence in all its endeavors. Core Values: Trust and Integrity: Building long-term, trustworthy relationships with members through transparent operations. Customer-Centricity: Prioritizing the needs of customers by delivering personalized and reliable financial solutions. Inclusivity: Ensuring access to financial services for individuals from various economic backgrounds. Community Development: Actively contributing to the socio-economic upliftment of the community through its cooperative principles. A Testament to Cooperative Excellence Lokmanya Multipurpose Co-operative Society Ltd stands as a shining example of the power of cooperative principles in driving financial empowerment and fostering community development. With its extensive reach, diverse financial solutions, and unwavering commitment to its values, Lokmanya continues to be a cornerstone of India’s cooperative movement. As the society moves forward, it remains dedicated to serving its members with trust, integrity, and innovation, making a meaningful impact on individuals, businesses, and the broader community.

They came about in the year 2018, and are today one of India’s premier training organizations dedicated to providing industry-relevant programs in technology, business, finance, entrepreneurship, soft skills, and lifestyle. With over a pool of over 12000 students, they’ve been bridging the gap between industry needs and the available talent pool. Adding to their array of professions for which they provide job-ready courses now is the field of realty. SIILC, short for SIMACES Learning LLP, it’s a name that always makes heads turn when its about education that gets people the opportunity to create careers and go places! Let’s know what’s so special about them! Comprehensive Training Programs SIILC provides specialized courses in various fields, with a relative focus on education in the field of real-estate, a field thus far considered beyond the pale of education that only experience could teach. This real estate programs covers, among others, property management, investment strategies, legal frameworks, and market analysis with the intent of preparing professionals for success in this growing industry of immense significance. Other key courses include export-import management, hydroponic farming, culinary arts, and franchise development. With over 250 online courses, SIILC ensures accessible and flexible learning for individuals across the globe. Global Reach and Industry Collaborations While the world cowered in fear in the face of Covid-19’s onslaught, SIILC went about expanding the scope of its courses to include international training of students from countries as far away as Sweden, the UK, and beyond. To this end, they have collaborated with top institutions like the Indian Institutes of Management (IIMs) and have worked with MNCs to execute skill development programs under the latter’s Corporate Social Responsibility (CSR) initiatives. These partnerships have been helping bridge the gap between industry needs and workforce capabilities. Empowering Real Estate Entrepreneurs! Recognizing the potential of the real estate sector, SIILC now offers tailored programs for real estate professionals and entrepreneurs who are either part of or intend to be part of this industry that has immense significance. Their courses provide insights into industry best practices, property valuation, and smart investment strategies. The franchise development program also supports entrepreneurs in scaling their businesses efficiently. Future Vision SIILC aims to expand its real estate curriculum with advanced modules in urban planning, smart city development, and sustainable housing. By strengthening industry partnerships and leveraging digital platforms, SIILC continues to shape the next generation of skilled professionals, ensuring a strong impact on careers and businesses worldwide.

Starting a new financial year offers a strategic chance for home loan borrowers to reconsider their financing strategy and optimize financial gains. Home loan interest rates have stayed somewhat steady since the Reserve Bank of India (RBI) kept the repo rate at 6.5% from February 2023, allowing consumers to effectively arrange their long-term investments. This time presents a great opportunity for both new and current homeowners to take advantage of current financial advantages and lower their whole loan amount & tenure. A reputable loan provider in Pune, Dravyam Fintech thinks that home loan administration depends critically on well educated decisions. Adopting sensible financial techniques helps borrowers greatly lower interest rates, shorten loan terms, and strengthen their general financial situation. Understanding the Current Home Loan Landscape The home loan market in India has grown steadily in recent years. As of December 2023, the outstanding housing credit portfolio of the Reserve Bank of India (RBI) shows to be about ₹20.5 lakh crore, therefore highlighting the constant demand for homes. Driven by financial security and long-term investment ambitions, certain surveys indicate that 67% of the Indian urban purchasers now give homeownership first priority. Stable interest rates and good market conditions help borrowers to maximize their home loan options during the new financial year. Three Proven Ways to Maximize Home Loan Benefits Here are practical and result-driven strategies to help borrowers gain the most from their home loans: Opt for a Home Loan Balance Transfer By moving their remaining loan balance to another lender with a better interest rate, a home loan balance transfer lets borrowers By choosing a more competitive lender like Dravyam Fintech, customers can greatly lower their Equated Monthly Installments (EMIs), given house loan rates as low as 8.3% in 2024. By choosing a balance transfer to a lower-rate loan, a borrower with a ₹50 lakh loan at 9% for 20 years may perhaps save over ₹6.5 lakh in interest. Before switching, though, borrowers should take processing fees and transfer charges under some thought. Leverage Tax Benefits Under Section 80C and 24(b) Reducing home loan expenses depends much on tax incentives. Borrowers can claim deductions of up to ₹1.5 lakh annually on the principle repaid under Section 80C of the Income Tax Act, 1961. On the interest component, they can also claim up to ₹2 lakh annually under Section 24(b). This mix lets borrowers save up to ₹3.5 lakh yearly, hence lowering the financial load of owning a house. Make Periodic Prepayments Regular prepayments are another great method to cut interest expenses. Using annual bonuses, tax returns, or other surplus income, borrowers can lower their principal balance, therefore reducing the total interest owing. For a ₹50 lakh loan at 8.5% interest, for example, making an annual prepayment of ₹1 lakh may save up to ₹8.4 lakh in interest throughout the loan term. Furthermore, as the RBI forbids prepayment penalties on floating-rate loans, borrowers can maximize savings free from extra expenses. Why Choose Dravyam Fintech? As a leading home loan provider in Pune, India, Dravyam Fintech is committed to helping homeowners secure affordable and flexible loan solutions. Our offerings include: Competitive interest rates to reduce EMI burdens. Tailored repayment options aligned with income growth. Expert financial guidance for better long-term planning. The new financial year is the ideal occasion to review your approach toward your house loan. Dravyam Fintech can assist you make better financial selections whether your goals are loan transfer, debt reduction, or reorganization of your repayment schedule. Rahul Bhalchandra Patil Director & CEO Dravyam Fintech Pvt. Ltd rahul.p@dravyamfintech.com

In India, after the usual “What’s your name?”, the next question is often, “Where you from?”. A home is more than just four walls and a roof—it’s a reflection of your identity, your dreams, and your journey. It’s where memories are made, where families grow, and where you find solace after a long day. Therefore, real estate is really more than just a big purchase it’s a dream for many. Real estate has always been a cornerstone of wealth creation in the country. You would have heard how if your grandfather had bought just that one land piece 50-60 years back you would have been a millionaire by now. Recently, many of my family members bought house in Pune and my first question to all of them was “Why not Mumbai?” and long debate ensued. So let me share some points which they shared which made me agree with them. The real estate rivalry between Pune and Mumbai is intensifying, with Pune emerging as a preferred destination for investors and homebuyers. While Mumbai has long been India’s financial capital, Pune’s affordability, infrastructure development, and thriving IT sector are making it a strong contender. Let’s explore why Pune is gaining an edge and what this means for property buyers and investors. Affordability: The Game-Changer Mumbai’s sky-high property prices have made it unaffordable for many, while Pune offers better affordability with lower costs per square foot. This makes Pune an attractive option for middle-income buyers and investors. For instance, a 2BHK apartment in Mumbai’s suburbs can cost upwards of ₹2 crore, while a similar property in Pune’s Hinjawadi or Wagholi can be purchased for ₹1 crore or less. This affordability allows buyers to invest in larger homes or diversify their portfolios without over-leveraging. Additionally, government schemes like PMAY (Pradhan Mantri Awas Yojana) provide further incentives for first-time homebuyers. Infrastructure Development: Driving Growth Pune’s infrastructure is transforming rapidly, with projects like the Pune Metro, Ring Road, and Mumbai-Pune Expressway enhancing connectivity. Areas like Hinjawadi, Kharadi, and Wagholi are witnessing significant appreciation due to these developments. For example, the Pune Metro, expected to be fully operational by 2025, is boosting property values along its corridors. Similarly, the proposed Ring Road is opening up new areas for development, making them attractive for long-term investments. Tax Benefits: A Win-Win for Investors The new Long-Term Capital Gains (LTCG) tax laws, effective from 23rd July 2024, provide flexibility for property sellers. Investors in Pune can benefit from these laws, especially when reinvesting gains in residential properties or specified bonds. For instance, sellers can choose between a 12.5% flat tax rate without indexation or a 20% tax rate with indexation, depending on which option minimizes their tax liability. This flexibility makes Pune’s real estate market even more attractive for long-term investors. Quality of Life: A Growing Priority Pune offers a better work-life balance compared to Mumbai, with cleaner air, less congestion, and a vibrant cultural scene. This has made it a preferred choice for young professionals and families. The city’s pleasant climate, proximity to hill stations like Lonavala and Mahabaleshwar, and thriving social infrastructure add to its appeal. For many, Pune represents the perfect blend of urban convenience and a relaxed lifestyle. Conclusion: Pune’s Real Estate – A Smart Choice Pune’s real estate market presents a compelling case for investors, homebuyers, and professionals. Its affordability, infrastructure development, and thriving IT sector make it a strong contender against Mumbai. With the added flexibility of the new LTCG tax laws, Pune is poised to become a hub for long-term real estate investments. For those looking to invest in property, Pune offers a unique combination of growth potential, quality of life, and financial benefits. Whether you’re a first-time buyer or a seasoned investor, Pune’s real estate market is worth exploring. CA Tanmay Gambhir tanmaygambhir37@gmail.com

In a world where safety and security have become paramount, R-Isha Securetech Pvt. Ltd. stands out as a trusted leader in the electronic security management sector. Established over two decades ago, the company has effectively evolved from a vision of providing comprehensive security solutions into a reputable name synonymous with quality and reliability. History and Growth: Founded with the primary aim of enhancing security through innovative technologies, R-Isha Securetech Pvt. Ltd. has consistently expanded its presence across Maharashtra. Headquartered in Pune, with branch offices in Kolhapur and Nashik, the company has adeptly managed to grow its footprint, catering to a diverse clientele that ranges from residential sectors to large enterprises. This year, R-Isha Securetech Pvt. Ltd. proudly celebrates its 23rd anniversary, marking two decades of commitment to excellence in security management. Product Offerings R-Isha Securetech Pvt. Ltd. boasts an extensive product portfolio that addresses various security needs. Their offerings include: CCTV Cameras: High-definition surveillance solutions that ensure round-the-clock monitoring. EPABX Systems: Advanced communication systems designed to enhance business communication. Video Door Phones (VDP): Innovative solutions that allow for secure visitor management. Access Control Systems: Comprehensive systems that regulate entry and enhance security. Biometric Solutions: Cutting-edge technology for secure and accurate identification. Fire and Burglar Alarm Systems: Reliable alarm systems designed to safeguard properties. Gate Automation: Seamless automation solutions for ease of access and security. Attendance and Payroll Software: Solutions that streamline workforce management. Networking Products and Accessories: Essential components that support robust security infrastructures. Billing and Accounting Software: Software designed to enhance organizational efficiency. Smart LED TVs: Smart technology integrated for better communication and engagement. Consultation Services: Beyond product sales, R-Isha Securetech Pvt. Ltd. is known for its exceptional consulting services. Their team of experts works diligently to understand client-specific needs, developing tailored security management strategies that ensure peace of mind. This customer-centric approach has solidified their reputation as a pivotal player in the industry. Industry Partnerships: R-Isha Securetech Pvt. Ltd.aligns itself with some of the top brands in the electronic security and surveillance sector. These partnerships enable them to deliver cutting-edge technology and innovative solutions that keep their clientele ahead of the curve. Maha Securetech Expo: In keeping with its mission to empower the security industry, R-Isha Securetech Pvt. Ltd. launched the Maha Securetech Expo, an initiative aimed at bringing together leading brands under one roof. The expo offers hands-on training and educational sessions for their dealer network, fostering collaboration and skill enhancement within the industry. With successful events held throughout the previous year, the expo focuses on educating participants about the latest trends and innovations, ensuring they remain competitive in a rapidly evolving market. Commitment to Quality and Innovation: With an unwavering focus on quality, innovation, and customer satisfaction, R-Isha Securetech Pvt. Ltd. continues to redefine security solutions in Maharashtra. Their commitment to staying ahead of technological advancements sets them apart in the competitive landscape, making them a go-to choice for businesses and individuals seeking reliable security solutions. Conclusion: R-Isha Securetech Pvt. Ltd’s journey over the past 23 years reflects its dedication to safety, innovation, and client satisfaction. As they look towards the future, the company remains committed to enhancing the security landscape through strong partnerships and a continued focus on excellence. Whether it’s through their diverse product offerings or innovative educational initiatives, R-Isha Securetech Pvt. Ltd. stands as a beacon of security in an uncertain world. Rahul Mutha CEO & MD, R-Isha Securetech Pvt. Ltd. rahul@ishacctv.com www.ishacctv.com