conveyance is the transfer oflegal title of property from one person to another. However, that is also exactly what a Sale Deed does.

2) full payment means entire sale consideration 

3) possession means flat is delivered to you by the builder 

See conveyance and sale deed are similar thing for flat a sale or conveyance deed name can be used interchangeable.

You have to register a deed in 3 months once it is signed.

Full payment means complete consideration.

That physical possession is given.

See the number cannot be amended without consent.

Conveyance Deed is a legal document that acts as a proof of transfer of ownership from 1 person ...

However, in case of a sales deed, the ownership is transferred.

In law, conveyance is the transfer of legal title of property from one person to another. However, that is also exactly what a Sale Deed does.

The main difference is that the Sale Deed transfers the legal title of property from one person to another in case of a sale.

Whereas, a Conveyance Deed can transfer the legal title of property from one person to another in case of a gift, an exchange, a lease (i.e. on a temporary basis), mortgage or other circumstances.

The transfer of possession of real property or Personal Property from one person to another. ... 

Delivery is not restricted to the actual physical transfer of an item—in some cases delivery may be symbolic.

Such is the case where one person gives land to another person.

Full Payment means with respect to any Obligation, the full and indefeasible cash payment thereof, including any interest, fees and other charges accruing during an Insolvency Proceeding (whether or not allowed in the proceeding), as evidenced by execution and delivery of the parties thereto of a Payoff Letter.

If the plot is sold in part then one can apply for sub-division after which the sub-divided survey number may be allotted.

On the basis of the sub-division you can apply for two share certificates from the society  following the necessary formalities.

1. builder executes 'agreement for sale' for sale of flats/units in the building, with the flat purchasers

2. all the flat purchasers then come together and form a society or a company or an association of apartment owners [formation of society is actually the liability of the builder under section 10 of MOFA]. If the builder does not take steps to form a society then the flat buyers [in the event they have reached the prescribed number as required under the societies act - which is 10 members] can form and register the society themselves 

3. once society is formed the builder has to convey the land and building to such society within the time period as agreed in the individual sale agreements with flat buyers. If no such time period is stated then under section 11 read with Rule 9 of MOFA, the builder is liable to convey the land and building to such society by executing a 'conveyance deed' or a 'sale deed' in favour of the society within 4 months of its formation

4. if the builder does not convey the land and building within the prescribed time as above then under section 11, the society can apply to the registrar for grant of unilateral deemed conveyance

5. full payment means full payment under all the agreements entered by the builder with all the flat buyers

6. possession delivered means the builder having delivered the possession of the flats/units to all the flat buyers. There may be cases where all the flats in the building are not sold and the prescribed number of 10 is reached of the flat buyers. In such cases also these flat buyers can form a society and the builder can become a member of such society in respect of the unsold flats

7. the plot on which the society's building is standing would belong to the society only alongwith the appurtenant land. The society members would also have a right over the common areas and amenities spanning across the entire plot. It may so happen that on a single plot there are many buildings constructed by the builder and for each building a separate society is formed. If that is the case then the management of the building has to be handed over the society as per the applicable MOFA/RERA rules and the plot beneath all such buildings will be conveyed to an Apex society or Federation in which all the separate societies would be the members. Thus the Apex society will become the owner of the land. This is the case when the plot is not subdivided and is left as one composite plot. The conveyance to such apex society would happen when the entire construction as per the layout plan is completed. The builder however cannot indefinitely delay the conveyance in favour of apex society under the pretext that he is entitled to further construction using future increase in FSI of the plot. If that were to be allowed then no builder will ever execute conveyance in favour of society since he would want to use the plot for every instance of FSI increase for making further construction. This has been held by the courts as not permissible in a number of judgments. One such landmark judgment is of Lakeview Developers for the PADS scheme in Hiranandani Powai area. Please check that. 

8. if the builder wants to subdivide the plot into smaller plots or wants to amalgamate smaller plots into one big plot then obviously he will have to take society's consent because once society is formed, the builder loses his control over the land on which the society's building stands

Dear Client, 

Conveyance is synonym of transfer which can effect by way of gift,release deed sale deed etc.
If you will check fees structure of sub registrar to levy stamp duty, it will be given mention Sale Deed (Conveyance Deed) 5% of market value , so don`t get confuse. 

And it is law that if document not submitted for registration within four months from the date of its execution.
And sale completes on payment and delivery of possession but due to non registration, title dose not transfer. 
So if you will submit for registration of sale deed on back date, 4 month limitations. 
 
Full payment - No payment due. 

Possession delivered - property physical possession under control and hold. 
Plot in society vest in society cannot have two number of single plot. 

No both are different conveyance is executed later from builder to the buyer or society 

Full payment means that the sales consideration of flat which is mentioned in agreement. 

Possession delivered means when owner take physical possession of flat.