Sunday, July 25, 2010

Development Agreement with Developer



The managing committee of the society on passing of resolution of appointment of developers at the Special General Meeting shall execute Development Agreement within one month of date of the said with selected developer on the basis of terms and conditions approved by the members at the Special General Meeting under the consultation and guidance of the Architect/Project Management consultant. Development Agreement shall contain other terms as under in additions to terms and conditions recommended by the Architect and Project Management consultant and approved Special General Meeting.

[A] Redevelopment of the building shall be completed within two years and not more than that and in particular circumstances it shall not exceed more that three   years.

[B] The Developer shall provide a Bank Guarantor of 20% of the total cost of the redevelopment project.

[C] The Developer shall make provision for temporary alternate accommodation in the same area for the members who will be vacating the premises or shall make provision for monthly rental plus deposit to be paid to all the members of the society if they agree or shall make provision for temporary alternate accommodation in the Transit Camp.

[D] Development agreement shall be registered under the Registration Act .1908.

[E] New members, on completion of Project shall be admitted in Special General Meeting as members of the Society.

[G] Right to Redevelopment societies building given to the builder are not transferable.

[H] Flat owners shall vacate the premises only after obtaining all legal documents and permission of the competent Authority for redevelopment of building.

[I] In case of one who is in possession of flat/premises and who is owner of the same, his right of ownership shall not be disturbed.

[J] If there arises any dispute in the redevelopment of the building agreement executed by the developer, Architect and Society, it shall be resolved under the provisions of sec. 91 of MCS Act, 1960 and such provision shall be made in the development agreement.

v     Allotment of flats shall be given in the new building in the same manner in which the original flats were located, and shall be allotted after the receipt of occupation certificate. If it is necessary to allot flats by lot system, it shall be allotted accordingly but only after completion of the building which is ready for occupation and members are ready and willing to occupy their premises. Allotment shall be done in presence of the authorized officer of Registrar. The developer shall make arrangement for video recording of the same.

v   The office bearer or any committee member of the society is prohibited from being appointed as developer or shall not be relative of the appointed developer.

v     Sanctioned plans shall be obtained for Municipal Corporation or Competent Authority who has right to sanction plans and these shall be put before the special General Meeting. If any member wants to have any certified document, he shall make an application and shall also pay the requisite amount for a copy of document to the secretary of the society. The Committee shall be responsible to providing required information to the members.

This order is available on the website of the Government of Maharashtra (in Marathi) - No. 20090103114749001.

This order in Marathi is issued in the name of the Governor of Maharashtra.
It is signed by
(Dr. Sudhir Kumar Goyal)
        (Chief Secretary
Co-operation &Marketing)

Copies to
(1)               The Commission for Co-operative & Registrar of Co-operative Societies

(2)               District joint Registrar Cooperative Society (AII)

(3)               District Deputy Registrar Co-operative Societies (AII)



  

  









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