Our building is a cessed property in SOBO which is going in for redevelopment - It is being redevloped by the Landlord - Can you please advice the following question on Corpus fund for old tenants:
1. What is the Corpus Fund as per Mhada? is there a calculation.
2. The Builder is offering 75K cash per old tentant, is this a reasonable.
3. Should Corpus fund and Rent for Alternate Accommodation be mentioned in the Registered Agreement and will it incur 5% Stamp duty if they mentioned in the Registered Agreement.
Thanks in advance for your time and effort
Regards,
Nawaz
The tenants aren't legally eligible for any corpus amount, it is advisable to settle the matter mutually. Usually the tenants are offered alternate accommodation on ownership basis. The documents for the alternate accommodation has to be registered and the details of rent for alternate accommodation has to be included in your own interests.
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