Redevelopment of commercial premises

Manish Bhatia (Querist) 25 June 2021 This query is : Resolved
Dear Sir,

I have a shop of 300 square feet on ground floor of a building. I Had bought this shop in 1999 .
The entire building was owned by one person(Mr. X) . Rest of the shops are on pagdi system.
We had had paid 1/3 amount extra & got the shop ownership. We have registered document as a proof of the same. About ten years ie around 2010 back the Mr.X sold the entire building & plot area to a builder who is about start redevelopng the entire structure. Just for additional information the builder is redeveloping a entire slum area right behind our commercial building & desperately needs to make way for his project by redeveloping our building.
The builder has verbally promised the other pagdi shop owners that he will make owners after redevelopment of the structure.
Builder is yet to approach me regarding the same so My query is that
1) am i entitled to extra benefits since i am owner of the property?
2) Shouldn't i be getting extra space ie atleast 33% ( 300 +150 sqft) after redevelopment.

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Quick Summary

If you own a commercial shop within a building undergoing redevelopment, you may be entitled to additional benefits beyond what 'pagdi' system tenants receive. As a registered owner, you have grounds to negotiate for extra space, potentially an increase of at least 33% of your current area, and other monetary advantages. It's crucial to ensure transparency and clarity in any agreement with the developer, and seeking legal advice before signing can protect your interests and ensure you receive fair compensation.

P. Venu (Expert) 26 June 2021
You can demand and settle through negotiation.

T. Kalaiselvan, Advocate (Expert) 29 June 2021
With redevelopment, the members get a new building, more space and monetary benefits without spending any money from their own pockets.
Dilapidated buildings on the verge of collapse are a grim reality for thousands of housing societies across Mumbai. Developers, as an incentive to owners of older buildings, offer additional area, money, and the promise of a new flat with a better amenities .
Redevelopment is usually burdened with bitterness and complaints of high-handedness and corruption against the Managing Committee of the society, which is why society members should always appoint a lawyer before signing a contract with the builder." Builder should be transparent, reliable and trustworthy
The contract should clearly mention the obligations of the builder and the society members and the penalty or consequences of any breach of the contract by either of the parties. Once the agreement is accepted in terms of area and corpus fund, it cannot be revised.

"If the carpet area, as documented in the agreement, is not given by the builder, the owner can claim appropriate compensation through a consumer court by filing a complaint against the builder under the counts of Breach of Trust, Cheating, Unfair Trade Practice and Deficiency in Service,

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