Society asking to remove our car from parking

We had purchased a car 30yrs back and have been parking in society compound till date. Parking space was allocated to us by management committee of society at that time. Parking is not included in agreement of any of the flat members. However car is unused and is not working since past 5yrs. We are not spending money on repair as it will be huge cost for repair. We regularly pay rent for parking to society. Now society's current management committee has send us notice to remove the car, stating its not being used and is in junk condition and society might take action, if there are no steps taken by us". There is limited parking and some tenants with 2 cars might be interested in getting our parking. Currently we have kept our old-unused car, so that we do not loose parking space from society. Other intention to retain our car is if building goes in redevelopment, we may get parking space considering we already have one. So as per law: 1) Would we have to vacate our parking spot, on society's notice ? 2) If building goes in redevelopment, if person already has been parking, does it enable him to get parking in new building (after building is redeveloped) ?