Redevelopment of pagdi system property
We are a society of 240 tenants in Central Mumbai - with huge premises and compound - around 7 to 8 buildings. We have being residing as tenants for more than 60 years now. The developer is planning to redevelop the society - but is not providing any concrete plan of how he will use the area - where we tenants would get flats etc. Lot of tenants were threatened - with individual cases against each one of them which forced them to sign / give consent.
WE understand that currently he has given only two assurances to the tenants -
1. they will not be vacated from their current premises till OC for the new property is received - as he will develop 1 building with less tenants (10) first and then give possession to all others in that building and accordingly shift tenants -
2. He has agreed to provide 30% extra area on an ownership basis
3. All other terms are completely vague and require complete co-operation for tenants
4. Car park is also not guaranteed.
In this regard, we wanted to understand:
1. The landlord by using various tactics has managed to receive consent of around 50 to 60% of the tenants on these terms. If he receives 70% consent, redevelopment work would commence. What would be the fate of the remaining 30%
a. Will they also be subject to redevelopment on the same terms as that of 70%
b.Will they also get the property on ownership basis if they do not sign now -
c. Is it alright to sign the agreemnt without knowing the plan
2. The biggest concern behind not signing is the reputation of the developer is not good in our area