We have been approached by a Developer through our landlord. It is a cess bldg and will be redeveloped under Dcr 33 (7).
The offer given to us is on a Plain paper. This is developer first project hence no Developer company name provided. Based on it, there is no wriiten agreement between us and developer on the offer. Neither he has shown us the Plan of Project nor he has shown us any approval he has recievd from BMC/Mhada for the Project.
The Developer is behind us to sign Irrevocable consent which can be given to Mhada.
My question is:
1. Without MOU or agreement between tenant and developer, should we sign the irrevocable consent.
2. As the developer profile seems to be dicy, For saftey of tenants; we have asked for Bank Guarantee and timeline guarantee of the project. The Developer has denied giving a bank guarantee.Is it justified..?
How should we move further with the consent when the developer is not ready to give any thing in written?
Consent Draft attached for your reference.
please help
