Developer Cannot Delay Conveyance To Exploit Future FSI: Bombay HC; Upholds Deemed Transfer To Vile Parle

Bombay HC dismissed Ariisto Realtors' petition challenging deemed conveyance to Ariisto Cloud Cooperative Housing Society in Vile Parle.

Developer cannot indefinitely delay land transfer to exploit additional FSI under changed development regime, the court held.

Under MOFA, the promoter must execute conveyance within four months of society formation, regardless of private contracts.

Any additional FSI arising after conveyance belongs to the society, not the developer, Justice Sandeep Marne ruled.

The court criticized the developer for attempting to monetize development potential belonging to the society.