Lig plot scheme - development

Santosh Nair (Querist) 08 January 2012 This query is : Resolved
Hi
We have received a proposal of land in Borivili which is alloted to a Trust from Mantralaya under LIG scheme. The trust has formed a Society and now wish to sell the land or work on JV.
In case of sale the Chairman and other board members will resign and we can get our members take control of society.

In case of JV, as informed to us Development need to be done only under the society name and also the main promoter of the Trust will remain with the developer till the end since the land alloted to his Trust.
I am not sure how this Scheme works and what are the Pros & Cons and required papers that I need to verify.
First of all, can we form society of land which is not yet developed but has registered society members.
Is this the case like re development where we take the development right from Trust to develop the site.
Pls advice
Thanks
Santosh Nair

Follow Query

Report Abuse

Raj Kumar Makkad (Expert) 09 January 2012
As your project is totally of commercial nature, LCI is not open for you so it is suggested to engage a specific lawyer to provide you legal advice as per your requirements.