Mrs . Shanta Rani (Housewife) 07 September 2012
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.
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.