There must be a registered bye-laws of the housing society, better to obtain a copy of bye -laws if housing society and related clauses with regard redevelopment of complex/ apartment. giving additional area will defend on your documents viz., sale deed and agreement of sale. Better to enter in to Memorandum of Understanding while purchasing the flat. yes inputs with regard to commitments will defiantly help you
Query on possible redevelopment of housing society in Bangalore
Hello, I am looking to buy a flat at a housing society in South Bangalore. The location is next to Jain College and Manipal Hospital and opposite to Bangalore Central Mall in Jayanagar 9th Block. The society is right on the main road and has 14 buildings with 7 floors and 500 odd flats. Though the property (Shanti Park) is a single compound, each building has its own association. The locality is great and everything looks good, except that the society/building is 25 years old. There is a flat around 1100 sq ft approximately, which is selling for around 50 lacs. I have someone advising me that, the construction is good and as per redevelopment laws once the whole society goes for redevelopment (may be after 10-15 years), I will get a flat + 100 sq feet additional space in the new building. Is the advice correct? How does redevelopment work in Bangalore? Is the builder obligated to give me more than what I am investing now? Will the new builder give me the same sq ft house in the same area? Any inputs will be helpful.
Asked 7 years ago in Property Law
Religion: Hindu
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6 Answers
1) Re development is long drawn process
2) You need consent of majority of flat owners fir redevelopment to materialise
3) there is no guarantee that you will get an additional 100 square feet area
4) yiu will get flat in the same complex but most redevelopment projects are plagued by delays
Could you please direct me to some links or documents which state that according to Bangalore redevelopment laws, I will definitely get a flat of atleast the same area in the same locality or same building? Given that the road opposite to the said building is a 80 feet road, what is the maximum FSI the builder will get for the new building. Will he get permission for a high-rise? Beyond 15+ floors. Unless we know the new builder will get such a permission, I am sure the investment will be a dead investment. thanks for your responses
Asked 7 years ago
You need to consult a local architect in this regard
2)what is amount of FSI, whether permission would be given for high rise opposite to main road , number of floors that can be constructed etc would be known to architect
I have someone advising me that, the construction is good and as per redevelopment laws once the whole society goes for redevelopment (may be after 10-15 years), I will get a flat + 100 sq feet additional space in the new building.
Is the advice correct? How does redevelopment work in Bangalore? Is the builder obligated to give me more than what I am investing now? Will the new builder give me the same sq ft house in the same area?
Any inputs will be helpful.
You have been told that probably this property may go for redevelopment in another 10 years time, but what is the guarantee for it.
No doubt in redevelopment the members will be allotted with more space , but who can give an assurance to this?
Think properly before you plan to invest in this venture.
Could you please direct me to some links or documents which state that according to Bangalore redevelopment laws, I will definitely get a flat of atleast the same area in the same locality or same building?
Given that the road opposite to the said building is a 80 feet road, what is the maximum FSI the builder will get for the new building. Will he get permission for a high-rise? Beyond 15+ floors. Unless we know the new builder will get such a permission, I am sure the investment will be a dead investment.
There is no guarantee for the redevelopment neither there is an assurance from the vendor side or the association.
Hence if there is no concrete evidence to believe that the redevelopment may take place it is better not to proceed as per your desire without knowing anything for sure.
The builder is not obligated to give you more than what you have invested. Everything boils down to the redevelopment agreement to be executed between the builder and the owners, but the general practice in the event of redevelopment is to give more than the area redeveloped by the builder. There is no structured law on this.
