(Querist) 09 December 2011
This query is : Resolved
Facts : In Mumbai, a flat ( worth 50 lacs ) is purchased on 5th floor in a Apartment ( having total 7 floors ) which is 5 years old and it is a duly registered co-op society. Now, in a major earthquake in Mumbai, this apartment collapses totally. So, my 50 lacs is gone. What can all flat owners get from government ? Will government build up the building and give flats to all the flat owners ? In short, in few seconds , is my 50 lacs gone ? or I have any other alternative ? pl. advise. Since the society was registered, the land on which that apartment was built, again apartment can be built (if all flat owners agree ) ? If yes, who will give fund ?
In short, what can be scenario in such situation ? If answers to all above question is negative, then it means that as a clever man, one has to buy tenement. Incase, this tenament is collapsed, then land is still there with you & you can re-build. As a flat owner, you loose everything. Am I right.
Experts, please give your expert views on above... thanks anckoora
(Querist) 10 December 2011
Dear All Experts,
I only want to know that in case of such eventuality, what happens to a flat owner ? He looses everything ? Is a tenament owner is better protected than a flat owner ?
(Expert) 10 December 2011
Don't you worry mr.Anckoora ,but it is a matter of co-operative society,so first you need to go through the constitution of your society and if there is any provision regarding this,you can get your money back .