Can redevelopment rights be kept transferable?

Neelachandra (Querist) 24 August 2011 This query is : Resolved
Hello

The redevelopment agreement of our society allows the developer to transfer the redevelopment rights partially or fully to another developer. When referred to the Guidelines for redevelopment it is mentioned that the redevelopment rights should not be transferable. What are the consequences faced by the members of CHS if the redevelopment rights are kept transferable?

Regards
Neelachandra

Thanks in advance

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ajay sethi (Expert) 24 August 2011
for redevelopment of society approval by majority of members in AGm special Annual meeting is must . raise this issue in AGM . if the devlopment agreement is contrary to bye laws you have option of challenging it in court of law /complain to registrar of cooperative society

M.Sheik Mohammed Ali (Expert) 24 August 2011
yes, i do agree expert query reply

prabhakar singh (Expert) 24 August 2011
i too agree with experts reply.

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