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Saurabh Dhakras   04 July 2022

Apartment re-development - developer not willing to give any financial security instrument

I have a query on apartment redevelopment within Pimpri Chinchwad Municipal Area. Our apartment is 25 yr old, not dilapidated, no structural audit has been done as yet but our apartment members are pushing in for re-development due to a proposal received from a developer. Note that ours is an apartment and not a co-operative housing society.

The proposed developer is not willing to give any kind of security deposit or bank guarantee to the apartment owners, and I as a flat owner do not agree to give my flat without a security amount from the developer. However other flat members are saying they have 51% majority go ahead without developer giving any kind of security amount or bank guarantee. Do I have any legal re-course available to protect my flat and not agree to give it for re-development without any bank guarantee or any financial security instrument by proposed developer?


 3 Replies

Sourav Das (Advocate Supreme Court of India)     05 July 2022

Dear client,


Issue legal notice through advocate to other flat owners, stating your greviences.  Then apply for injunction on redevelopment in civil court.


Call or mail me for assistance 

G.L.N. Prasad (Retired employee.)     05 July 2022

When you are not a member of an Apartment association or any society, where is the majority?  The majority can not invade your personal rights.  They can not proceed an inch without your permission when you are not a member in any owner's group.. In case of exigency, contact a local advocate and get such injunction orders.

Kishor Mehta (CEO)     05 July 2022

Not clear whether you are a tenant in a rented apartment buildig or an owner of an apartment ownership society.

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