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Query regarding redevelopment issue
30-Aug-2023 (In Property Law)
Hi my question was regd redevelopment. The builder has asked for the signatures so that he can get NOC from the society before he has made a development agreement with us. In our building there are 10 members of which 7 members have gave him the signatures but three have not since he has not made any redevelopment agreement with us. He has just given us the offer letter . Should we give him the signature or we should insist for redevelopment agreement first. If we don't sign for NOC what legal actions can the builder take against us since he is not making a redevelopment agreement with us.
Namaste!
The builder can't take any legal action against you on the basis of an unaccepted offer.
If there was an agreement signed then he would have some legal standing. At present it is merely an offer, which without an acceptance has no value.
It is advised that you may take the NOC from all the residents before signing the agreement.
The builder wouldn't want to sign up for redevelopment without being sure that no one should back out or oppose once he is about to commence the construction. For the same it is well of him to request for the NOC.
Regards,
Vishesh Bansal.
The builder can't take any legal action against you on the basis of an unaccepted offer.
If there was an agreement signed then he would have some legal standing. At present it is merely an offer, which without an acceptance has no value.
It is advised that you may take the NOC from all the residents before signing the agreement.
The builder wouldn't want to sign up for redevelopment without being sure that no one should back out or oppose once he is about to commence the construction. For the same it is well of him to request for the NOC.
Regards,
Vishesh Bansal.
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Adv. Vishesh Bansal
Delhi | 25+ Answers
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Hi.
I am assuming you're placed in Mumbai, where it is necessary to take an NOC from the society before any redevelopment towards the society. Now, it is important for you to be sure that the terms of redevelopment are in accordance with the members of the society. For that, you should make sure that he makes you a written promise regarding the terms of redevelopment before you sign the NOC. Now, the first step towards the re-development is agreeing on the basic terms and conditions between the members and the Developer. The broad terms and conditions will include extra area, corpus money, shifting charges, alternate accommodation, time of re-development, amenities in the new building, etc.
Thus, unless you have these all in an agreement duly executed between the members of the society, it is advisable not to give an NOC just on the basis of trust.
I am assuming you're placed in Mumbai, where it is necessary to take an NOC from the society before any redevelopment towards the society. Now, it is important for you to be sure that the terms of redevelopment are in accordance with the members of the society. For that, you should make sure that he makes you a written promise regarding the terms of redevelopment before you sign the NOC. Now, the first step towards the re-development is agreeing on the basic terms and conditions between the members and the Developer. The broad terms and conditions will include extra area, corpus money, shifting charges, alternate accommodation, time of re-development, amenities in the new building, etc.
Thus, unless you have these all in an agreement duly executed between the members of the society, it is advisable not to give an NOC just on the basis of trust.
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