1.REDEVELOPMENT. MAHARASHTRA SOCIETIES WELFARE ASSOCIATION WEL- COMES YOU Request You to Switch Off...

1. REDEVELOPMENT1. REDEVELOPMENT

MAHARASHTRA SOCIETIES WELFARE ASSOCIATION

WEL- COMES YOU

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2. DOCUMENTS FOR REDEVELOPEMENT2. DOCUMENTS FOR REDEVELOPEMENT

• TENDER

• LETTER OF INTEREST

• APPOINTMENT LETTER

• MEMORANDUM OF UNDERSTANDING (MOU)

• TENDER

• LETTER OF INTEREST

• APPOINTMENT LETTER

• MEMORANDUM OF UNDERSTANDING (MOU)

2. DOCUMENTS FOR REDEVELOPEMENT2. DOCUMENTS FOR REDEVELOPEMENT

• AGREEMENT (DEVELOPMENT)

• POWER OF ATTORNEY

• CONSENT LETTER

• PERMANENT ALTERNATIVE ACCOMODATION AGREEMENT

• AGREEMENT (DEVELOPMENT)

• POWER OF ATTORNEY

• CONSENT LETTER

• PERMANENT ALTERNATIVE ACCOMODATION AGREEMENT

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

• Agreement for temporary Accommodation(LL)

• Bank Guarantee

• Agreement for Permanent Alternative Accommodation (APAA)

• Possession Letter in favour of Society and Developers

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.

• Construction Completion Certificate for Members/society Building (O.C)

• Revocation of Bank Guarantee

• Termination of Development Rights,

• Re- conveyance in favour of Owner Society.

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

• 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

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

• 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

• 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

• 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

5. LETTER OF INTEND5. LETTER OF INTEND

• Number of Professional, employees associated with him in the RD

• Details of cases pending in court’s

• Number of Cheque/s Dishonored during the process of RD

• Certificate form Society on completion of RD

• Contact Number, Name, Address of References

• Number of Professional, employees associated with him in the RD

• Details of cases pending in court’s

• Number of Cheque/s Dishonored during the process of RD

• Certificate form Society on completion of RD

• Contact Number, Name, Address of References

5. LETTER OF INTEND5. LETTER OF INTEND

• 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

• 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

6. APPOINTMENT LETTER

• Invite Officer of Deputy Registrar, officer of Interested Builder/Developers.

• Letter to Builder on confirmation

• Appointment Letter

• Invite Officer of Deputy Registrar, officer of Interested Builder/Developers.

• Letter to Builder on confirmation

• Appointment Letter

6. APPOINTMENT LETTER

• 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,

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


• 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


Restrict from transfer of redevelopment project

• Dispute, difference to be settled by Arbitrator clause

• Jurisdiction-Mumbai,



• 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.


• 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.

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.

• 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.



• Details of executed MOU., • Time to time Letter,

Document Submitted at Dy. Registrar office


• Details of executed MOU., • Time to time Letter,

Document Submitted at Dy. Registrar office


• 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

• 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


• Restrict from transfer of redevelopment project


• 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

• Restrict from transfer of redevelopment project


• 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


without prior consent of society GB.

• Jurisdiction, Dispute, Possession from member

• Begin the Redevelopment on Last person vacating the premises

• Rent for delay period,

without prior consent of society GB.

• Jurisdiction, Dispute, Possession from member

• Begin the Redevelopment on Last person vacating the premises

• Rent for delay period,


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

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


• 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

• 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


• 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.

• 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.


• 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

• 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


• 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

11. BANK Guarantee11. BANK Guarantee

Stamp duty payable on documents of Redevelopment

Development Agreement @ 5%

Power of Attorney Rs.100/-

M.O.U Rs.100/-

Consent Rs.100/-

Withdrawal of ConsentRs. 100/-

Alternative Accommodation@5% for additional and extra area and const cost for old area.

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

1.REDEVELOPMENT. MAHARASHTRA SOCIETIES WELFARE ASSOCIATION WEL- COMES YOU Request You to Switch Off...

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