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Mihir..... (Wealth Manager)     17 April 2012

Redevelopment gone wrong

Our society entered into a redevelopment agreement with a developer, and one of the clause was to shift us (ground floor resident) to the newly constructed building. There was a verbal decision that he would give us a flat on the 4th floor. After 2 years, the developer refuses and offers us a flat on the 1st flat where there is no light or ventilation at all, which we refused. He revises the plan and let my FSI remain as it is. After constant following up, he agrees to give us a flat outside of the new building on the condition that we obtain permission from the society to allow him to utilize the FSI in constructing another floor on the new building. The society refused. Now we are stuck. We asked the society to allow us to sell the flat, but society has refused us saying we have to settle with the builder. Now, we cannot sell the flat, we cannot settle with the builder. What are the course of action do we have here to get out of this situation?

 

Thanks in advance



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