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Can A group of individuals buy land together
01-Oct-2023 (In Property Law)
Can a group of individuals buy plots/land together by forming a welfare society or some other structure and proceed for construction? We are group of friends settled across various parts of india and few abroad. can all of these form a housing society and buy property in the name of the society and proceed for construction?
Hi
Absolutely yes
A group of individuals can form a society and buy plots/lands in the name of the society and proceed to
a) Society can issue shares to its members who are the property owners
b) Apply for building permission in the name of society.
c) Undertake construction for and on behalf of its members
d) Permit members to transfer ownership by transfer of shares.
Example: Jubliee hills housing cooperative society
Hope this helps
Absolutely yes
A group of individuals can form a society and buy plots/lands in the name of the society and proceed to
a) Society can issue shares to its members who are the property owners
b) Apply for building permission in the name of society.
c) Undertake construction for and on behalf of its members
d) Permit members to transfer ownership by transfer of shares.
Example: Jubliee hills housing cooperative society
Hope this helps
Helpful?
29+
29+
Adv. Rajagopalan
Hyderabad | 500+ Answers
Chat
HI,
yes you can form a body by forming BOI body of individuals and registered with the sub-registrar. with that registered name you can purchase the land or plots and can make constructions with the lay out approvals and permissions.
yes you can form a body by forming BOI body of individuals and registered with the sub-registrar. with that registered name you can purchase the land or plots and can make constructions with the lay out approvals and permissions.
Helpful?
32+
32+
Adv. Sree K Sivakumar
Hyderabad | 100+ Answers
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