In a redevelopment project in India, a builder typically provides compensation to the existing occupants of the building in the form of rent and corpus fund.
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What is Corpus Fund in Redevelopment in India?
The corpus fund is a lump sum amount provided by the builder to the existing occupants in addition to the rent. This fund is intended to cover various expenses incurred by the occupants due to the redevelopment, such as relocation expenses, temporary accommodation, shifting costs, and any other related expenses.
The corpus fund is particularly important because it helps the existing occupants manage their finances during the transition period of the redevelopment project. It provides financial support to cover the additional expenses and disruptions caused by the redevelopment process.
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Does a builder give both rent and corpus fund while redevelopment? What is corpus fund can you please explain in detail ? What is the loss of building member if they dont take corpus find? Its important as my building members are not aware about it and I dont have much knowledge please explain.
Nikhil
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2024-02-26T12:13:44+00:00 2024-02-26T12:23:57+00:00Comment
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