| PRIOR TO kick-starting redevelopment, the society should have paid appropriate stamp duty and registration
DEVELOPERS ENTER into an agreement with the residents to merely develop the land. They don't own the land.
THE SOCIETY should have a valid conveyance deed of land and building in its favour.
ONCE THE society members’ consent is obtained, the society should submit the copy of the conveyance deed, certified copies of the property registration card, the latest electricity bill, water bill, municipal tax bill, etc to the developer. It should contain technical details such as the number of open car parking space, stilt car parking and closed parking allotted to existing society members.
THE DEVELOPMENT agreement should spell out the broad specifications and amenities to be offered in the new building.
THE AGREEMENT should mention the schedule of payments, tentative date for vacating the flats, the time period for completion etc. The old building by the members shall be linked with the plans being approved by the authority concerned. It should contain a penalty clause if the developer fails to meet the deadline.
Courtesy By: The Economic Times Dtd: July 6, 2010
For more information about real estate, real estate india, Indian real estate, property, property in india, Indian property, property for rent, rented property, apartment for rent, rented apartment, flats for rent, rented flats in delhi, property for sale in delhi, apartments for sale in delhi, flats for sale in delhi homes for sale in noida, flats for sale in noida, real estate in noida, investment option in noida, real estate consultant in noida, realty firm houses in noida, residence in noida, residence in delhi, residence in gurgaon, flats for rent in gurgaon Log in to http://www.zameen-zaidad.com/ And http://www.propertycafeteria.com
|
Article Details
