A PAAA provides legal sanctity to the old flat owners that a newly built flat has been allotted in their name in the redeveloped building.
2) it is only after the PAAA has been signed that homeowners should vacate their old building to commence redevelopment.
3) inform the builder that you are not liable to pay interest as bank was refusing to sanction loan in absence of PAA
4) one of conditions of IOD is that builder should enter into Tripartite agreement with society and individual flat owner to provide permanent alternative accommodation . it should be registered before flat owners are required to vacate their flats and hand over possession to builder for redevelopment
4) however Bombay high court has set aside this condition that builder should execute PAA with existing flat owners before issue of commencement certificate as regulation 33(5) of development control Regulations do not impose any such condition