Legal Question in Real Estate Law in India

I am the owner of a flat in a Housing Society in Thane. I have paid 90% of the cost of the flat to the builder who is the developer of the building. I have taken loan from a bank. The bank has declined to pay the lat installment to the builder until he issues a OC to the Society. Although I have a possesion Certificate from the builder, the Society has refused to issue Share Certificate to me until the builder issues a No-Dues certificate to me. Does the Society have the authority to refuse a Share Certificate.


Asked on 1/03/10, 8:20 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Once you are admitted as a member of society, then society is bound to issue a share certificate.

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Answered on 1/03/10, 9:36 pm


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