Corpus fund, balcony and flower bed areas

j.s.coachman (Querist) 04 April 2012 This query is : Resolved

Ours are category A cessed bldgs., slated for redevelopment.
We wish to know:
(1). Is it compulsory, by law, for the
developer to generate a corpus fund for
the present tenants ?
(2). What is the law regarding the balcony
and flower bed areas ? Are they to be
included in the FSI or not ?
Thanks,
J.S.Coachman

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Raj Kumar Makkad (Expert) 04 April 2012
1. No but this is highly advisable.

2. You visit http://www.propertyezee.com/news.aspx for detailed information on the subject.

ajay sethi (Expert) 04 April 2012
you should insist on corpus fund . you are sitting on prime land the redevlopment of which will result in bonaza to the builder .

areas such as balcony flower beds , niches werefree from FSi . however as per amended DC rules they are included in FSI

V R SHROFF (Expert) 05 April 2012
Usually all builders in Mumbai generate corpus fund.

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