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REDEVELOPMENT OF PAGDI PROPERTY
06-Apr-2023 (In Property Law)
Hello Sir,
I just want to know how is redevelopment of Pagdi Property is done?
I would like to know in the process of Redevelopment of Pagdi Property in whose favour does Builder give rent.
For Eg: If the Rent Bills & Electricity Bills are in the name of Tenant but Tenant wants the same to be made in the name of Other Person.
Whether such thing is possible??
Also would like to know how much area per sq ft is provided is 180sq ft Pagdi Property is there??
And How much Sq ft property is provided if 400sq ft property is there in Pagdi????
Also I want to know The process of Redevolepment of Pagdi Property
Hi,
A pagdi property is nothing else but a tenanted property. The process of redevelopment is that the landlord should be willing to do the redevelopment of the property. Such willingness is showed by giving a offer letter which is for the consideration of the tenants and then the terms of the offer letter are negotiated and development agreement is entered into between the landlord and the tenants.
If a tenant wants to make the development agreement in favour of any other person who is not a tenant and a family member of that tenant, then the landlord is entitled to transfer charges. If such other person is a family member, then the landlord asks for Affidavit, NOC of the other family members and Indemnity Bond from the Tenant. In such situation he is not entitled to any transfer charges.
If the landlord applies to MMC for fungible fsi for rehabilitation component, then the tenant is entitled to 35% more area then his current area and such fungible fsi the landlord will not be able to sell it to the outsiders.
A pagdi property is nothing else but a tenanted property. The process of redevelopment is that the landlord should be willing to do the redevelopment of the property. Such willingness is showed by giving a offer letter which is for the consideration of the tenants and then the terms of the offer letter are negotiated and development agreement is entered into between the landlord and the tenants.
If a tenant wants to make the development agreement in favour of any other person who is not a tenant and a family member of that tenant, then the landlord is entitled to transfer charges. If such other person is a family member, then the landlord asks for Affidavit, NOC of the other family members and Indemnity Bond from the Tenant. In such situation he is not entitled to any transfer charges.
If the landlord applies to MMC for fungible fsi for rehabilitation component, then the tenant is entitled to 35% more area then his current area and such fungible fsi the landlord will not be able to sell it to the outsiders.
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Adv. Rushil Aiya
Mumbai | 100+ Answers
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