1. You may take the help of an advocate to draft the agreement carefully. Since the occupants are betting their asset (the current structure would be demolished), it is important the builder compensates them well, abides by the law, and fulfils the demands stated in the agreement. Therefore, the agreement should be comprehensive to ensure the occupants don't suffer financial losses in case the builder fails to complete the project.
The agreement with the developer can be registered for Permanent Alternative Accommodation for protecting the tenancy rights.
2. Under such a situation the registered agreement will be of immense help to sue the developer accordingly, or the the developer should give a security deposit to the members; this should be equal to the construction cost of rebuilding the society, according to the new design. As a precautionary step, the developer is expected to give a bank guarantee of at least 20 per cent of the project cost. The money would be used in case the developer fails to complete the project on time.
3. The Municipality may not entertain any such letter or request.
The members have to ensure the developer purchases the additional TDR (transfer of development rights) and loads it on the members.. "Members should ensure this before vacating their house because if the TDR rules change after vacating, the builder might not be able to give the extra flat area he had promised,
Members should be given an alternate accommodation, preferably in the same area. Or, the developer should agree to pay the person's monthly rent. Builders should provide advance payments for a year to members for rents (in the new accommodation). Whereas, for the next year, they should provide post-dated cheques.
4. The members should agree to vacate their homes only after the builder has secured the necessary legal approvals and permits (city-specific or eg: approvals from Brihanmumbai Municipal Corporation) to redevelop that space. It is important that the rights of an original occupant remain unchanged after the new building comes up.
"Don't vacate the house until the agreement is registered and it says exactly what the members had demanded.
Members shouldn't vacate the flat unless the developer issues an intimation of disapproval with the sanctioned plans and loads the TDR on themembers. Also, ensure the security deposit and the bank guarantee are paid.
