The law relating to purchase of a flat from a builder is not governed by Maharashtra Co-op. Societies Act but is governed by The Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale , Management and Transfer) Act, 1963. Under Section 4 of the said Act it is necessary that Agreement has to be in writing and it must be duly registered. Therefore, such an Agreement between the Builder and Flat Purchaser has to be in writing and has to be stamped as per Bombay Stamp Act 1958 and needs to be registered. The aforesaid answers are with respect to the transfer in the co-operative societies.
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