Hi,
Builders and developers are at times less interested in buying land and developing it because doing so would require paying a significant amount in stamp duty. Instead, repurposing an old structure or building flats for redevelopment results in a sizable reduction in stamp duty. To do this, developers and the Society sign a development Agreement. Redevelopment has the added benefit of enhancing the quality of life for elderly inhabitants by providing them with better, larger, and safer spaces. The following are the criteria for building flats for redevelopment.
During society meetings, the members' consent must be acquired. An essential component of the guidelines states that a redevelopment plan can only be accepted by the general body if three-fourths of the society's members are present.
The society should give the developers a copy of the conveyance deed for the society's property, as well as certified copies of the property register card, index II, the most recent electricity bill, water bill, municipal tax bill, N.A. tax bill for the society's property, and the copy of the registration certificate of the society, on or before the agreement, is executed.
A list of the members who have agreed to live in the new building, along with their preferences for additional apartments and parking rights, should be created. The agreement should clearly state the conditions of the availability of temporary alternate housing to the members throughout the building phase.
I hope you got an answer to your query.
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What are the criteria for building flats for redevelopment?
Rachana
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3 Year
2022-07-01T18:58:05+00:00 2022-07-04T11:57:47+00:00Comment
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