Sir,
Ours is a housing society & cessed bldg in Central Mumbai. Since the bldg is in dilapidated condition, we have invited developers for REDEVELOPMENT. A developer has been finalised after the tender process.
The developer is offering carpet area of 450 sq ft with hardship allowance of rent, corpus, shifting etc.
My existing residential area is 180 sq ft. I need an area of 200 sq ft which can be used for commercial purpose.
My query is whether partial area (say 250 sq ft) out of total 450 sq ft area can be sold to the developer and make a development agreement for the rest area prior redevelopment of the bldg?
