Mumbai, July 21 -- Calling out a real estate developer's "greed to make more profits", the Bombay High Court last week dismissed its petition opposing the grant of deemed conveyance to a housing society in Vile Parle (West), ruling that builders cannot exploit additional Floor Space Index (FSI) arising from subsequent changes to development regulations. "This way, no developer would ever convey land to the organisation of flat purchasers and would continue to take benefit of further additional FSI made available due to change in FSI regime," justice Sandeep Marne observed. The ruling underscores a developer's statutory obligation to convey the land to a housing society after its formation. Ariisto Realtors Private Limited (ARPL) had moved the high court challenging an order passed by a District Deputy Registrar, Co-operative Societies, in July 2025, granting unilateral deemed conveyance of a 1,241.65 sq m plot to the Ariisto Cloud Co-operative Housing Society (ACCHS). In his July 17 order, justice Marne noted that ARPL opposed the grant of conveyance because it believed the Development Control and Promotion Regulations (DCPR) 2034, introduced in 2018, would allow it to construct an additional 841.16 sq m on the land. The dispute stems from a 2010 development deed under which ARPL built a ground-plus-nine-storey building, Ariisto Cloud, near SV Road in Vile Parle (West). ARPL argued that the landowners, who had joined ACCHS as members, had colluded with other members of the society to defeat its right to exploit additional FSI on payment of Rs.51,000 per sq m, as stated in the development agreement. However, the ACCHS pointed to the development agreement executed under the Maharashtra Ownership of Flats Act, under which the builder had committed to convey the land to the society after all the flats in the building were sold. It said that the additional FSI claimed by the builder stemmed from a 2018 regulatory change, and that it was impermissible for the builder to deny conveyance on that ground. Rejecting ARPL's arguments, the single-judge bench held that the developer was "attempting to claim a right which never belonged to him in law". The judge said the builder was statutorily required to convey the land and building to the society within four months of its formation. The additional FSI arising out of DCPR 2034, introduced in May 2018, belonged to the society, the judge added....