Nandu Narvekar

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Redevelopment #builder#bank
Is there any way to ensure that the builder has offered adequate bank guarantee?
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Rachanaa Group  

129 Answered

Answered on November 08, 2017
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    • Your bank guarantee should be sufficient to cover the construction cost of the area of the existing owners/members in the proposed building. If it meets this value, then you may consider it as sufficient/adequate.

    Redevelopment #rent#tenants#society
    Is there any way to estimate the rent that will be provided to the existing tenants of a society under redevelopment for the period of redevelopment? Does there need to be a minimum corpus?
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    Rachanaa Group  

    129 Answered

    Answered on November 08, 2017
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    • One has to inquire with real estate brokers in his area to know prevailing rent and can also be ascertained by visiting few flats avavilable on rent in the near by area. Amount of the corpus will depend upon feasibility of the project and it is usually created to cover cost of maintenance of the new premises offered to the existing member.
    RERA #promoter#affidavit#registration#application
    If a project is not completed by the promoter within the time limit committed in the affidavit, does a fresh registration application have to be filed?
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    Aahwaana Ramesh

    40 Answered

    Answered on November 08, 2017
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    • The registration granted under section 5 may be extended by the Authority on an application made by the promoter due to force majeure, in such form and on payment of such fee as may be specified by regulations made by the Authority: Provided that the Authority may in reasonable circumstances, without default on the part of the promoter, based on the facts of each case, and for reasons to be...
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