Status of redevelopment of building

Q: I read some where that the Mumbai High Court has implemented new rule for considering redevelopment. What is the rule?

Rakshit, Mumbai

21st September 2013

Real estate News in Mumbai

bombay high court

mumbai high court

redevelopment of building

Follow Discussion

Also see discussions for

Mumbai Real estate News Real estate News in Mumbai

Replies (3)

Will the redevelopment of old flats affect the Mumbai real estate?

Rakshit, Mumbai

21st September 2013

Comment

Redevelopment of flats means a new construction of the existing flats. The redeveloped flats also involve new amenities and some shop spaces. This boosts up the value of the properties, capital value of the locality and contributes to the overall price appreciation of a total area. With capital values in Vile Parle around Rs. 23,850 per sq.ft, it can be expected to go up in the future as an effect of redevelopment.

Sankalp, Mumbai

21st September 2013

Disha Construction had taken up a project in Vile Parle (East) for the flats in Datta Ramanand housing society. The housing society complex consists of four buildings with 120 flats. The developer was chosen in 2010 by the society to redevelop their complex. An agreement was signed between the majority members of the housing society and the developer for the work to begin. Accordingly, 93 flat owners vacated their flats and started staying in the temporary accommodation allotted to them. The developer also spent over Rs. 27 crore for various works and rental payment for the transit accommodation. However, with the rehabilitated flats set to be reduced by 80 sq.ft, 27 flat owners refused to sign the agreement.

Arup rajan, Mumbai

21st September 2013

Comment

The Maharashtra Housing and Area Development Authority (MHADA) identifies certain housing units for redevelopment. These units include houses built before 1970 on the island city and units under dilapidated conditions. Most of these residential units are under bad physical condition and are prone to collapse unless redevelopment work is carried out. According to the tenants ownership scheme under the MHADA Act, at least 70% of the tenants can come together and form a cooperative housing society. The Datta Ramanand housing society in Vile Parle is one such society which is undergoing redevelopment.

Arup rajan, Mumbai

21st September 2013

The Bombay High Court has given an important ruling that only the decision of the majority members of a housing society must be taken into account while considering redevelopment. It said that the minority percent of the non-cooperating members cannot halt a redevelopment project.

Lalit Verma, Mumbai

21st September 2013

Comment

The ruling came in light of the opposition a mega-redevelopment project faced in Vile Parle. About 27 families were opposing the plans of redevelopment of the flats. The court directed that this found to be a minority and could be evicted if necessary. It said that the decision taken by the majority percent of the members of the housing society will be final and binding on the non-cooperating members.

Sankalp, Mumbai

21st September 2013