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Ownership rights in redevelopment of property of tenancy building
30-Jan-2023 (In Landlord/Tenant Law)
We are the tenants of a 3 storey pagdi bldg in Santacruz West. We have been approached by a builder for redevelopment. The property belongs to a trust. We have been informed that we shall be getting 21% extra carpet area. But the tenancy shall continue. We shall not be given any ownership rights. 60% of our tenants have already signed an agreement with the builders. My question is whether we shall be able to get ownership rights as per redevelopment property of tenancy buildings.
Hi
If property is belonging to trust then trust is owner of property and therefore further development has to be done after procuring prior permission of Charity Commissioner. And if you are tenant of trust then you could not become owner of redeveloped property. Even in absence of Charity Commissioner sanction neither builder nor trustee can given you ownership right. At the most you can continue as tenant with sanction or consent of landlord.
If property is belonging to trust then trust is owner of property and therefore further development has to be done after procuring prior permission of Charity Commissioner. And if you are tenant of trust then you could not become owner of redeveloped property. Even in absence of Charity Commissioner sanction neither builder nor trustee can given you ownership right. At the most you can continue as tenant with sanction or consent of landlord.
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Adv. Ajay Ashok Joshi
Pune | 25+ Answers
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