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Mrs . Shanta Rani (Housewife)     07 September 2012

Redevelopment norms - mumbai

Our building is going in for redevelopment.
We have an enclosed garage/car park in the building. We also have a licence from BMC to operate an office from this premise
 
What can I get in lieu for the garage/area ? What is my legal entitlement?
Regards
Shanta


Learning

 3 Replies

ABHIJEET PARIKH (Bcom LLB MBA)     07 September 2012

It  depends on what other members r getting in lieu off

however u can get an additional area in ur existing premises or flat

it completely depends on ur negotiating ability with the developer

S Jadhav 98336 98330 (Jadhav & Associates)     07 September 2012

The amount of space that you get from the developer on redevelopment is a matter of negotiation between the builder/developer and the owners unless the redevelopment is under a specific provision such as SRA.

Being a state subject, the policies and regulations for development vary from state to state and for town and cities. You have not stated where the redevelopment is located.

 

S Jadhav

Pradeep Patil (Service)     07 September 2012

First, you please clear whether you are residing on rented premises or ownership premises.

If premises is rented, you will be entilted to eqivalant carpet area in new redeveloped building as per law and you will remain tenant in the said new building and your rent will be more as per standard rent. Here, you can negotiate with the landlord / developer for extra area. Now a days, in many cases, landlord sells asset to the developers, who in return gives ownershp tenanments to the tenants with equvalant area or more depending upon circumstanses of the case.

In case of housing society, the committee should invite tender for redevelopment with speccific points that how much extra area they will get and about corpus fund, etc and negotiate more favourably.

In both the cases, developers offer rent for alternate accomadation till project complte.


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