redevlopment ofcommercial property
Querist :
Anonymous
(Querist) 03 May 2011
This query is : Resolved
This is a case of redevelopment of one pagadi system residential building situated at the area of Matunga -King circle. In which I have one shed (garage) in the compound of of the said building and that shed is going to redevelop with the said building. Now in this case builder doesnt want to show this said shed in redevelopment plan as he will not get benefit of proper FSI therefore Agreement of redevelopment between me and builder can not be register. He suggested us to vacat possession of the shed so he can get inspected the said building by BMC Authority. And alsohe assured us togive the flatin exchaneg of the said shed without any legal agreemnt. Pls suggest how to get a legal possession of flat in the said case after redevelopment.
Raj Kumar Makkad
(Expert) 03 May 2011
In case, no any valid agreement is executed between you and builder qua proposed flat, you shall have no claim thereafter.
Querist :
Anonymous
(Querist) 03 May 2011
but we do have rent receipt with us for past 26 years. Can we get a peacefull possetion in new redeveloped building by executing sales/ gift agreement???????
Guest
(Expert) 04 May 2011
Depends upon the honesty of the developer. But verbal commitment has no value.
About rent receipts in your possession, after vacation of the premises, any rent receipt proof won't do anything in the absence of any formal agreement.
Of course execution of formal sales agreement with due mention about previous consideration can work, but no gift agreement can work, as gift is considered voluntary and anybody can go back from the agreement.
Querist :
Anonymous
(Querist) 04 May 2011
But if we go for a sale agreement then is there any problem in respect of income tax or anything ???? as builder is going to give us cash and we will pay sale consideration via cheque???
