I am a landlord of a building in mumbai and I have pagdi tenants. Some tenants want to sell back the property to me.
What is the paperwork I must do so that during redevelopment they don’t claim anything back .
Is 66% if property value a fair payment to make to them for buying back the property ?
Your valuable advise will help
“There is no prescribed law about charges to be paid to a landlord for an NOC, in case you want to sell the property you bought under the pagdi scheme,” . It only prescribes that you seek the prior consent of the landlord, before transferring your tenancy. Usually the part-owner gives some portion of the sale proceeds to the original owner. As per market practices, this is 33% but it could be less or even more. However, there is no such thumb rule.you can bargain according to the current market situations.