REDEVELOPMENT

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REDEVELOPMENT
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MAHARASHTRA SOCIETIES WELFARE ASSOCIATIONWEL-
COMES YOU

• Request You to Switch Off or
• Keep your Mobile on Silent Mode

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2. DOCUMENTS FOR REDEVELOPEMENT

• TENDER
• LETTER OF INTEREST
• APPOINTMENT LETTER
• MEMORANDUM OF
• UNDERSTANDING (MOU)

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2. DOCUMENTS FOR REDEVELOPEMENT

• AGREEMENT (DEVELOPMENT)
• POWER OF ATTORNEY
• CONSENT LETTER
• PERMANENT ALTERNATIVE ACCOMODATION AGREEMENT

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3. DOCUMENT FOR REDEVELOPMENT

• Agreement for temporary Accommodation(LL)
• Bank Guarantee
• Agreement for Permanent Alternative Accommodation
  (APAA)
• Possession Letter in favour of Society and
  Developers

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3. DOCUMENT FOR REDEVELOPMENT

• Construction Completion Certificate for
  Members/society Building (O.C)
• Revocation of Bank Guarantee
• Termination of Development Rights,
• Re- conveyance in favour of Owner Society.

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4. TENDER

• Architect/PMC has to prepare the Draft TENDER
  Document
• Obtain the General Body Approval
• Passed the appropriate Resolution
• Fixed the date, time, tender money, Security
• Must carry the IMP details of Feasibility Report

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4. TENDER

• Fixed benefit in terms of Aare and/or Corpus
  Fund
• Bank Guarantee as per Expected project cost
• Benefit/s, Mention the out put of the Property of
  society Land

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5. LETTER OF INTEND

• The Individual and Business details of the
  interested Builder/Developer
• The financial Credibility
• The Last TEN/Fifteen year performance in the
  construction Business
• Redevelop project completed, New Building
  Construction Completed

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5. LETTER OF INTEND

• Number of Professional, employees associated with
  him in the RD
• Details of cases pending in courts
• Number of Cheque/s Dishonored during the process
  of RD
• Certificate form Society on completion of RD
• Contact Number, Name, Address of References

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6. APPOINTMENT LETTER

• Compare the offer/s received from various
  interested Builder/Developers
• Comparative Chart from received offer/s of at
  list five Builder /Developers
• SGM with Video Recording to finalize Best Offer
• Appointment of Builder/Developer

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6. APPOINTMENT LETTER

• Invite Officer of Deputy Registrar, officer of
  Interested Builder/Developers.
• Letter to Builder on confirmation
• Appointment Letter

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7. MEMORANDUM OF UNDERSTANDING

• Two / Tri-party Agreement with Society, Members
  and Developer.
• Execute on Stamp paper of Rs. 100/-
• Registered under the IRAct,1908
• The Terms and condition with prior approval of GB
• Tenor of MOU,

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7. MEMORANDUM OF UNDERSTANDING

• Fixed and Cash Benefit as per tender document
• Proposed Building Plan
• Bank Guarantee Not less than 5 BG
• BG without NOC of Society can not be Invoke
• Duration for Execution of Development Agreement

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7. MEMORANDUM OF UNDERSTANDING

• Period to obtain the statutory permission, IOD,
  other permission
• Plan to be put up with the approval of GB
• Verify the Submitted plain from PMC/Architect
• No change, amendment in approved plan without
  prior consent of society GB

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7. MEMORANDUM OF UNDERSTANDING

• Restrict from transfer of redevelopment project
• Dispute, difference to be settled by Arbitrator
  clause
• Jurisdiction-Mumbai,

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8. DEVELOPMENT AGREEMENT

• Two / Tri-party Agreement with Society, Members
  and Developer.
• Pay 5 Stamp duty as per Adjudication by Coll.
  Of Stamp under the Bombay Stamp Act 1958.
• Registered u/s. 17 of the IRAct,1908
• Recital must carry the complete information of
  the owner and the land descriptions.

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8. DEVELOPMENT AGREEMENT

• Details of the property conveyance in favour of
  society,
• Govt. Records in favour of society
• The details of basic work done prior to
  finalizing the developer,
• Details of Resolution/s Passed in the AGM,SGM ,
  in which various RD is taken as one of the Agenda.

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8. DEVELOPMENT AGREEMENT

• The Terms and condition with prior approval of GB
• Details of executed MOU.,
• Time to time Letter, Document Submitted at Dy.
  Registrar office

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9. DEVELOPMENT AGREEMENT

• Fixed and Cash Benefit as per tendor Document and
  MOU
• Proposed Building Plan
• Bank Guarantee
• Income Tax and other tax on corpus/ other
  benefit.
• Duration to obtain the statutory permission,
  IOD, other permission

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9. DEVELOPMENT AGREEMENT

• Restrict from transfer of redevelopment project
• Dispute, difference to be settled by Arbitrator
  clause
• Jurisdiction-Mumbai,
• Plan to be put up with the approval of GB
• Verify the Submitted plain from PMC/Architect
• Restrictions clause amendment in approved plan

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9. DEVELOPMENT AGREEMENT

• without prior consent of society GB.
• Jurisdiction, Dispute, Possession from member
• Begin the Redevelopment on Last person vacating
  the premises
• Rent for delay period,

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9. DEVELOPMENT AGREEMENT

• Penalty Clauses for any violation of terms and
  conditions of RD agreement Reduction in area,
  quality of construction, and amenities etc.,

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10. DEVELOPMENT AGREEMENT

• Any dispute between the society and member should
  be protected
• 100 vacant possession to be handed over on
  obtaining IOD
• TDR,FSI benefit and future FSI,TDR shall be
  restricted

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10. DEVELOPMENT AGREEMENT

• Date of Completion of project i.e 24 month,
  maximum 36 month
• Penalty clause due to Delay in RD project other
  than natural Calamities
• Penalty must be on per day delay other than Bank
  Guarantee
• DA must mentioned the professionals viz.

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10. DEVELOPMENT AGREEMENT

• Advocate/ Solicitor, Architect, PMC information
  and their fees payable by.
• Retain Bank Guarantee till the O.C
• Retain BG first monsoon of society building
• Termination of DA
• Conveyance in favour of RD

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11. BANK Guarantee

• Nationalized Bank
• Not Less then 20 of Cost of Construction
• Not Less than Five BG
• Any defect in constructed Bldg
• Fixed Time Limit to Complete Construction/RD
• Invoke as per stage
• Retain last BG upto OC and 1st Monsoon

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Stamp duty payable on documents of Redevelopment
Development Agreement _at_ 5 Power of
Attorney Rs.100/- M.O.U Rs.100/- Consent
Rs.100/- Withdrawal of Consent Rs.
100/- Alternative Accommodation_at_5 for
additional and extra area and const cost for old
area.
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PRAMOD KUMAR ASSOCIATIONA/28, 2ND FLOOR,
DATTANI CENTRE, ABOVE SANDEEP HOTELOPP.
KANDIVALI RLY STAN. (EAST), Mumbai 400 101
Presented By PRAMOD KUMAR VACHHETA
Advocate High Court, Mumbai Mobile No.
9224768008Tel Nos 022-28861466/99