Quick answer: when you buy a flat in a new Mumbai building, you buy a home – but the building, land and common areas are owned together through a housing society. The developer must help form the society after most homes are booked, and later convey the title to it. If the developer does not, the society can apply for deemed conveyance. Ask about these steps before you book, and check the timelines in your Agreement for Sale.
Last updated: 26 October 2026. A general guide for homebuyers in Maharashtra. Not legal advice – rules and timelines can change; check your agreement and speak to a property lawyer.
Most buyers focus on the flat – its size, view and price. But in a tower of many homes, the lifts, lobby, terrace, pool, parking and the land itself are shared. Who owns them, who maintains them and who decides how they are used? In Maharashtra, the answer is the housing society. Here is how it works, in plain English.
The Journey: From Booking to Conveyance
| Stage | What happens | What you should check |
|---|---|---|
| 1. Booking and agreement | You sign and register the Agreement for Sale | Clauses on society formation and conveyance |
| 2. Majority booked | Developer takes steps to form the society | You are asked to sign the membership forms |
| 3. Society registered | Registered under the co-operative law | Bye-laws adopted, managing committee chosen |
| 4. Possession | Homes handed over after the OC | Maintenance, deposits and documents |
| 5. Handover to society | Developer hands over management and accounts | Corpus, funds, warranties, records |
| 6. Conveyance | Title of building (and land, as applicable) transferred | Registered conveyance deed |
Step 1: What Your Agreement Should Say
The Agreement for Sale should state what kind of body will be formed (usually a co-operative housing society), roughly when, and when the conveyance will be done. It should also list the common areas and any amenities that will pass to the society. Our Agreement for Sale checklist covers these clauses and others.
Step 2: Forming the Society
Under the RERA Act, the promoter must enable the formation of the society within three months of a majority of homes being booked, unless local laws say otherwise. In practice, buyers sign membership application forms, the society is registered with the Registrar of Co-operative Societies, and the model bye-laws are adopted with any changes the members approve.
Once you are a member, fill in the society nomination form – and make a will too. Our guide to nominee vs will for a society flat explains why both matter.
Your share certificate
Each owner becomes a member and receives a share certificate. Keep it safe – banks, buyers and lawyers ask for it when you mortgage, sell or transfer the flat. Joint owners and nominations are recorded with the society; our joint ownership guide explains why a nominee is not automatically the owner.
The managing committee
Members elect a managing committee to run the society. In a new luxury tower, the first committee sets the tone: maintenance standards, vendor contracts, parking rules, amenity timings and rules for interior work. It is worth taking part early.
Step 3: The Handover From the Developer
Until the society takes over, the developer usually maintains the building using the advance maintenance collected at possession. At handover, the society should receive:
- The Occupancy Certificate, approved plans and key approvals.
- Structural and services drawings (electrical, plumbing, fire).
- Fire safety certificates, lift licences and other statutory papers.
- Warranties and annual maintenance contracts for lifts, pumps, generators, fire systems and mechanical parking.
- Accounts of the maintenance money collected, and any balance, deposits and corpus fund.
- A list of common areas and amenities, with their condition.
Under the RERA Act, the developer remains responsible for fixing structural defects and poor workmanship reported within five years of possession, as per the agreement. A good set of handover documents makes such claims easier. See our OC, possession and snagging checklist.
Step 4: Conveyance – Transferring the Title
Conveyance is the registered transfer of the building’s title from the developer to the society. Without it, the society runs the building but does not own it – which can cause problems for redevelopment decades later, for using unused development rights and for some approvals. The RERA Act requires the promoter to execute the conveyance as per the agreement or local law, and Maharashtra’s rules set out time limits. In a layout with several buildings, there may be a separate conveyance of the land and shared areas to an apex body. Our redevelopment vs new project guide explains why clear title matters in Bandra West.
Deemed conveyance
If the developer does not execute the conveyance, the society can apply to the competent authority – the District Deputy Registrar of Co-operative Societies – under the Maharashtra Ownership Flats Act. If the order is granted, the conveyance can be registered without the developer’s signature. The process needs documents and time, so societies usually take a lawyer’s help.
Questions to Ask the Developer Before You Book
- What type of society or association will be formed, and when?
- When will the conveyance be executed? Is the date written in the agreement?
- Which common areas and amenities pass to the society, and which (if any) are kept by the developer?
- How much advance maintenance and corpus will be collected, and how will it be handed over? See our running costs guide.
- Is the land owned by the developer, or held on lease or under a development agreement? Ask your lawyer to check the title report.
- How is parking allotted, and will it be recorded with the society? See our car parking guide.
Why This Matters at Godrej Bandra Bay
Godrej Bandra Bay at Bandra Reclamation is planned as one tower of approx. 26 storeys* on approx. 2.75 acres*, with 4 BHK homes only of approx. 2,900–3,500 sq ft* carpet, from ₹29 Cr*. A single tower usually means one society managing one building – often simpler than a large township. Read our comparison of single-tower living vs large townships.
MahaRERA registration is awaited, so the agreement, land title details and possession date are not yet public. When the project is registered, the MahaRERA page should show the title documents and the draft agreement. See our MahaRERA verification guide, what is confirmed and not confirmed and the booking checklist. Also read about Adani Bandra Reclamation nearby, and another summary on the Godrej Bandra Reclamation property page.
Planning the move as well? Our guide to planning interiors for a new luxury flat covers society rules for fit-out work. For the full picture, read the complete Godrej Bandra Reclamation guide or visit the Godrej Bandra Reclamation project page. Have a question? Send an enquiry.
Frequently Asked Questions
When must a developer form the housing society?
Under the RERA Act, the promoter must enable the formation of the society or association of allottees within three months of a majority of the flats being booked, unless local laws provide otherwise. Check the timeline written in your Agreement for Sale.
What is conveyance of a housing society?
Conveyance is the legal transfer of the title of the building – and, where applicable, the land and common areas – from the developer to the society. Until it is done, the society manages the building but does not hold its title.
What is deemed conveyance?
If a developer fails to execute the conveyance, the society can apply to the competent authority (the District Deputy Registrar of Co-operative Societies) for deemed conveyance under the Maharashtra Ownership Flats Act. If the order is granted, the conveyance is registered without the developer’s signature.
What is a share certificate in a housing society?
In a co-operative housing society, each flat owner becomes a member and receives a share certificate. It is proof of membership and is needed when you sell, mortgage or transfer the flat.
Who maintains the building before the society is formed?
Usually the developer, or an agency appointed by the developer, using the maintenance amount collected from buyers at possession. When the society takes over, the developer should hand over the accounts and any balance.
Has the Godrej Bandra Bay society been formed?
No. Godrej Bandra Bay is an upcoming project and MahaRERA registration is awaited. The society is normally formed after a majority of homes are booked, and conveyance follows later as per the agreement and the law.
*Prices, sizes and other details are indicative and subject to change. Please verify all details with the developer and on the MahaRERA website before making any decision.
Comments