Pagdi shop
Hi All,
I own a shop of 220 Sq. Ft carpet area in Kalyan city (Thane district, Near Mumbai, Maharashtra) from last 60 years under Pagdi system with all dues cleared in my name. Now the issue is the owner of the building has sold the building (Ground floor 09 shops +2 floor residence where owner of the building use to stay now vacant) to the Leading Builder in town. Now the builder wants to develop the building in small mall ground + 7 floors commercial.
1. He says he is not going to take construction cost nor will give any rent for temporary shifting.
2. He wants me to pay him 50,000 per sq. ft. transfer of ownership charges.
3. If I won’t agree to his condition no 2. He is asking me to vacant the place & WILL PROVIDE THE SAME AREA IN NEW BUILDING AFTER 4 YEARS AGAIN ON PAGDI SYSTEM TILL THAT TIME NO COMPENSATION WILL BE GIVEN TO ME.
My Questions
1. Why should I vacant the place if no compensation will be given to me if I don't fulfill condition no 2.
2. What is the % of ownership in pagdi system? As per law standard practice I am the 67% owner of place & builder is 33% owner. If he owns 33% only then as per Municipal Cooperation Rate of the area is 20-25k per Sq. Ft. I should only pay him 18, 15,000/- (25000*220*33%). then why should I pay him 220*50000?