Redevelopment of pagdi bulding
Querist :
Anonymous
(Querist) 06 September 2023
This query is : Resolved
Dear Sir, My father in law's building has been recently been sold to a builder and the builder is now the landlord. There is no society and the monthly rent is paid to the landlord. He has bought 3 buildings in total next to each other in a row from different landlords similarly. He wants to redevelop all the 3 buildings together. All the tenants of the other 2 building have signed the Irrevocable Consent Form (no redevelopment agreement has been made yet) and now he has brought it to our building as our building was just sold last month. The builder says that 1)Each tenant will get 300+105(fungible FSI)=405sqft in the new premises. 2) He is asking the tenants to sign the Irrevocable Consent Form for redevelopment. 3) He says this is the first step. This will be submitted to MHADA and then the officers from there will come and survey and demarcate the total area of the 3 buildings. Once that is done they will get complete all the legal paperwork required by the official authorities and will also make the Redevelopment Agreement which will specify the rent for alternate accommodation at the prevalent rates and its payment method, the area to given to them etc. 4) He has refused to give parking space individually and said that you can park in the compound which will be provided. 5) Structurally the building is not in a good shape with small rooms. I request your advice as to should we sign the Irrevocable Consent Form now and is it ok that the Redevelopment agreement is made later or is it important to make the Redevelopment Agreement first. Majority of the tenants have readily agreed for the redevelopment of the building and trust the builder but are confused as to whether they should sign the consent form now or not? attached please see the format of consent form given for signature. Thank you for your kind suggestions.
T. Kalaiselvan, Advocate
(Expert) 09 September 2023
The irrevocable consent letter has to be signed by the members acknowledging their consent for redevelopment. The letter, as the name suggests, is a written consent given by the members for going ahead with the demolition of their existing building and constructing a new building.
An irrevocable agreement is a contract between two or more parties that immediately binds all signing parties to the terms and conditions once signed. In other words, once signatures are collected, parties to the contract are prohibited from backing out of the agreement.
Before signing any document get it vetted from your lawyer. Give Irrevocable Consent letter with the clauses as advised by the expert.
