Compensation for garage in redevelopment of residential building
I stay in Mumbai. The building in which I reside, is planning for Redevelopment. I hold a flat of 545 sq.ft carpet area and a closed garage of 170 sq. ft area. I hold the flat and garage in my name since the inception of the building. The building is 43 years old and the builder had issued a single combined share certificate for both flat and garage. There are total 5 garages in the society and 22 flats in total.
The society is charging maintenance for the Garages since all these years and i am paying regularly.
The developer who undertakes the redevelopment of our building will compensate the garage owners by giving additional area in the flat. I want to know how much additional area in the flat i can demand from the developer against my Garage ?
Kindly advise me keeping my interest in consideration
Asked 1 year ago in Property Law from Mumbai, Maharashtra
1) it depends upon your negotiating skills with builder
2) what is area of your garage ?
3) demand double area of garage as additional area in flat and settle for equivalent area of garage
1. Try to negotiate with the builder , the area which you can get depend on the negotiation with him.There is no specific rule to follow , so put forward your demand and bargain on that.
2. in redevelopment you should demand double or more of area of existing garage space.
3. Final rounds of negotiation agree for something more area than what you have now if he is not agreeable to double area of what you have now.
.1) Other members of our society and the PMC appointed are forcing me to settle for only 33% area of the garage in the flat .
2) The area of my Garage is 170 sq.ft
3) How much area I am legally entitled to get in the flat ?.
Asked 1 year ago
1) you have said there are 5 garages in complex
2) all garage owners unite and demand area equivalent to garage area .
3) it all depends upon negotiating skills with builders
4) when you invite quotations from builders find out the maximum area offered for garage and ask builder short listed to match that offer
1. A redevelopment agreement will be executed between you and the developer. In the agreement the developer may agree to give any extent of additional area.
2. There is no cap laid down under any law on the additional area which may be demanded by the owner or given by the builder in the event of redevelopment. In some cases the additional area given is as high as 70%.
1. You are under no obligation to settle for only 33%. If the builder refuses to give the additional area which you desire then you are free to refuse to sign the redevelopment agreement.
2. As I mentioned earlier, by way of an agreement you can settle for any extent of the area.