1. REDEVELOPMENT
MAHARASHTRA SOCIETIES
WELFARE ASSOCIATION
WEL- COMES YOU
Request You to Switch Off
or
Keep your Mobile on Silent Mode
2. DOCUMENTS FOR REDEVELOPEMENT
• TENDER
• LETTER OF INTEREST
• APPOINTMENT LETTER
• MEMORANDUM OF
UNDERSTANDING
(MOU)
2. DOCUMENTS FOR REDEVELOPEMENT
• 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
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.
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
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
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
5. 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
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
6. APPOINTMENT LETTER
• Invite Officer of Deputy
Registrar, officer of Interested
Builder/Developers.
• Letter to Builder on
confirmation
• Appointment Letter
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,
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
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
7. MEMORANDUM
OF UNDERSTANDING
Restrict from transfer of
redevelopment project
• Dispute, difference to be
settled by Arbitrator clause
• Jurisdiction-Mumbai,
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.
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.
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
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
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
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,
9. DEVELOPMENT AGREEMENT
• Penalty Clauses for any
violation of terms and
conditions of RD agreement
Reduction in area, quality of
construction, and amenities
etc.,
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
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.
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
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
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 Consent
Rs. 100/-
Alternative Accommodation@5% for
additional and extra area and const cost
for old area.
PRAMOD KUMAR & ASSOCIATION
A/28, 2ND FLOOR, DATTANI CENTRE, ABOVE SANDEEP HOTEL
OPP. KANDIVALI RLY STAN. (EAST), Mumbai – 400 101
: PRAMOD KUMAR VACHHETA
Advocate High Court, Mumbai
Mobile No. 9224768008
Tel Nos : 022-28861466/99
Presented By