A Performance Guarantee is given by a Bank by keeping an amount as Fixed Deposit of 100% of the amount at stake. This must be made compulsory for Redevelopment projects.
Shree Krishnaraj Rao is really talking the TRUTH. He is expressing future problems of Builder/Developer in Redevelopements of CHS in a very simple and understanding way so that every member of any society will get aware of it in advance. --Great @
Most of Landlords/Builders are using divide and rule policy among members.Some members when becomes selfish then only interest of members are not protected.If managing committee acts pro members then no Landlords/Builders can cheat any society member.Under redevelopment process,same structure should be built for rehab and salable area.Proper documentation with clear terms and conditions by an eminent lawyer and it should be registered.
Absolutely right...divide and rule is the policy they adopt.. And they call individual flat owners and lure them that they will be taken care of if they convince other members...But I don't understand one thing, if we select a shady developer then even the MC member's flats will be at risk...are they not concerned about that? Sorry for asking a lame question
This is exactly builder Lokhandwala Minerva doing this to dhobi ghat resident it’s been 13 years still the people fighting for justice to get home some people haven’t received the rent for 2 years Total resident 1800. Now it’s worst situation many people died in covid in hope of that they will get home, I think birth of gabar should take place to provide justice to people
Very informative video talks by Krishna. But I want one clarification from this gentleman.If the Managing committee members are dishonest and align themselves with the builder and does not work in the interests of the members( flat owners) in many cases will not the members of the managing committee also suffer if the buiider cheats and does not complete the building?Even assuming that the members of the managing committee are corrupt and bribed by the builder will they not suffer more damage if the building redevelopment is not completed?Pl clarify.
The managing committee members of societies also suffer consequences for the bad decisions they make (just as the princes, nizams and peshwas who aligned with the British for temporary gains eventually lost their kingdoms). But in this process, ordinary flat-owners also suffer.
The best options in case of redevelopment are 1. Take compensation money and run 2. Redevelopment by own society In the last 15 years, I have seen so many people in my friends/family suffer due to redevelopment and only one successful case The one successful case was a prime location in Matunga. The developer clearly said that he is not going to make a redevelopment wing. All flats will be 3/4 Bhk and existing members will have to pay the difference or take a n outright settlement
Again d same identical case of Mulund Trupti chsl. But only d positive thing is we hv not vacated the bldg.👍 We hv terminated the developer in AGM. But the managing commitee doesn't want to terminate the developer.
Sir I have a ground level house in Kurla and planning to renovate the house with 2 additional floors above. Is there any rule or act to adhere before I could proceed with the renovation work? What are the guidelines one needs to follow?
Sir, Most Member fall in this trouble because 1. They trust the MC and let them handle. 2. They have the FEAR factor that discourages them to oppose any wrong decision. Their FEAR factor is such that they feel afraid because they are alone, while MC has the other Members with them. But may cases where individuals have gone against the Builder and won the case. 3. They do not know how to proceed against the Builder and the MC collusion with the Builder. 4. Most important of all, almost in all Societies that goes for Members are generally not Agreement Experts to understand the Cause interpretation, hence they depend on other members who convinces others that Clauses are in favour of the Societies, while it may not be interpreted in favour of Builder. 5. MC gets Bank Guarantee but later the Builder convinced the MC to cancel the BG and from their starts the problems from the Builder in some cases. and many others Remember if you know the basic as above and more and you are ready to FIGHT, you will WIN
If there is difference of opinion among the office bearers n committee mrmbers in the selection of developer but the fraud members are not in majority, what are the remedies available. Can Secretary n treasurer challenge the process in MHADA giving the details of irregularities to MHADA n challenge this process.
Hello Sir, and a very Happy New Year to you. Looking at your interaction with the people who booked flats with Runwal and Lodha, I would like you to take a look at VTP Realty Group of Pune. Their projects VTP Purvanchal and VTP Celesta are still not complete after many years, and they have launched multiple projects in Pune simultaneously, including two large townships of 100 acres named VTP Blue Waters and VTP Pegasus. Both these townships were KUL Ecoloch and KUL Nation respectively, which were never completed and have now been taken over by them. Some things about their ventures just don't add up. Many people in Pune have booked flats with them en masse. It would help many if you could turn your trained eyes to this.
Why is nobody asking for these issues to be fixed via regulation, building standards and their enforcement ? Hasn't this 🍌 Republic been around for 70+ yrs and why no standards yet ?
Making laws and rules has a limited utility. For instance, things are better now after RERA was enacted. However, loose interpretation and reluctant implementation of any laws and rules enables the rich and influential builders to get away. But there is another factor enabling builders to get away, and that is the ignorance of flat buyers and their inability or unwillingness to fight for their own rights. I am trying to make a difference in this area, and I feel my efforts are met with reasonable success 😁
@@KrishnarajRaoUrbanNaxal no society can function without laws and their implementation. However in India things are different. For eg, when crime is committed against women, we are trained to blame culture and religion, while the actual reason is lack of policing and the alarmingly low policemen per capita that we have. Add to this the archaic colonial IPC. The only solution to real estate related issues is to establish an organisation that will ensure that building norms and quality is adhered to. They should also be the guarantor if things fail. Very similar to what is done in the developed economies. Otherwise we will spend our lives blaming the builders religion,caste, food preferences etc etc while conditions remain status quo. And all this shouldn't have waited for 70 yrs. Like rera and deposit insurance , maybe prophet chaiwala was destined to do these too while Oxbridge educated elites slept
Sir would like to draw your attention to a redevelopment project in Malad East. I am a tenant in the building, which has been redeveloped for the last 10 years. Name of the project is Hazel Homes. Under SRA the builders M/S Nine Globe Builders, and all its partners, they have approved plan which states that there are 18 duplex and triplex flats in the building. And they have sold close to 70 flats. Please help us. Thanks
Hello Mr. Krishnaraj We are in deadlock position with our redevelopment with builder Rustomjee. We had made an agreement on 2011, but till now our redevelopment has not started. Now we are asking our developer to develop our society as per DCPR 2034, he tells that he will not be able to develop our society as per DCPR 2034 and is adamant that he will redevelop as per our 2011 agreement only. We repeatedly asked him to give us writing on how much area, corpus fund, rent he is giving and details of bank guarantee, but he doesn't give anything. We want to take legal action against him, but we are afraid that the case may take another 10 years to get resolved. There are some MC members and some society Members are in builders hand and are stopping us from taking legal action. Could you please advice how should we go forward with this issue.
Thank you sir for your guidance regarding redevelopment, but here I want to give one suggestion is self-Development is better solution on all this risky development. I know in self-development also there are some pro's and con's also. But on hind side flat owners would get good benefits than the benefits they would get in re-development from builder. Also the ownership would intact till the building gets completed. Please give your suggestion also.
@@KrishnarajRaoUrbanNaxal - hello Sir, our society is currently discussing redevelopment with a builder. I have some questions around it. How can I connect with you ?
Krish, what's your opinion on redevelopment of a society (basically extension of additional room for each unit) which is proposed to be done while the CGHS members continue staying within the building? Is it worth the risk then? Suppose structural audit allows for the expansion and extensions are legally ratified. (sorry to post this on a few of your related vids)
Policy of builder to offer flat or flats from the sale component of the to-be-constructed structure as security to the rehab component instead of giving bank guarantee or surety bond. Shockingly Mumbai High Court has not questioned the adequacy of the above type of security policy offered by the redeveloper in place of bank guarantee or surety bond.
Es jaankaari ko sab log viral karo.jis sey koi bhi builders public public ko fansa nahi sakta.sab ki sab society waley advocate rakho.bigair advocate key koi bhi society waley kisi bhi builders ko apney advocate ki salah key devlopment ko mat do.
@@KrishnarajRaoUrbanNaxal sir how to avoid all such problems. Is appointing a good Legal Consultant a Solution?? So as to get good terms in agreement from builder ?? #solution
@@discomallu9769 I don’t know about you but I bought a whole 4 Storey building with 3.5Cr in West Delhi prime Location, as compared to a matchbox in Mumbai. And yes, Free Water and Electricity are just perks on top.
A Performance Guarantee is given by a Bank by keeping an amount as Fixed Deposit of 100% of the amount at stake. This must be made compulsory for Redevelopment projects.
Shree Krishnaraj Rao is really talking the TRUTH. He is expressing future problems of Builder/Developer in Redevelopements of CHS in a very simple and understanding way so that every member of any society will get aware of it in advance.
--Great @
Most of Landlords/Builders are using divide and rule policy among members.Some members when becomes selfish then only interest of members are not protected.If managing committee acts pro members then no Landlords/Builders can cheat any society member.Under redevelopment process,same structure should be built for rehab and salable area.Proper documentation with clear terms and conditions by an eminent lawyer and it should be registered.
Absolutely right...divide and rule is the policy they adopt.. And they call individual flat owners and lure them that they will be taken care of if they convince other members...But I don't understand one thing, if we select a shady developer then even the MC member's flats will be at risk...are they not concerned about that? Sorry for asking a lame question
Nicely put up!
Very much practical information ! Thx sir!
This is exactly builder Lokhandwala Minerva doing this to dhobi ghat resident it’s been 13 years still the people fighting for justice to get home some people haven’t received the rent for 2 years Total resident 1800. Now it’s worst situation many people died in covid in hope of that they will get home, I think birth of gabar should take place to provide justice to people
Thanks for the awareness SIR...
Thanks alot for sharing such valuable information
Awesome
After seeing these videos, one feels that building own house on own plot is tge best.
Very informative video talks by Krishna. But I want one clarification from this gentleman.If the Managing committee members are dishonest and align themselves with the builder and does not work in the interests of the members( flat owners) in many cases will not the members of the managing committee also suffer if the buiider cheats and does not complete the building?Even assuming that the members of the managing committee are corrupt and bribed by the builder will they not suffer more damage if the building redevelopment is not completed?Pl clarify.
The managing committee members of societies also suffer consequences for the bad decisions they make (just as the princes, nizams and peshwas who aligned with the British for temporary gains eventually lost their kingdoms). But in this process, ordinary flat-owners also suffer.
The best options in case of redevelopment are
1. Take compensation money and run
2. Redevelopment by own society
In the last 15 years, I have seen so many people in my friends/family suffer due to redevelopment and only one successful case
The one successful case was a prime location in Matunga. The developer clearly said that he is not going to make a redevelopment wing. All flats will be 3/4 Bhk and existing members will have to pay the difference or take a n outright settlement
Who was the developer?
Again d same identical case of Mulund Trupti chsl. But only d positive thing is we hv not vacated the bldg.👍 We hv terminated the developer in AGM. But the managing commitee doesn't want to terminate the developer.
Sir I have a ground level house in Kurla and planning to renovate the house with 2 additional floors above. Is there any rule or act to adhere before I could proceed with the renovation work? What are the guidelines one needs to follow?
How much should the minimum bank guarantee be?
Sir, Most Member fall in this trouble because
1. They trust the MC and let them handle.
2. They have the FEAR factor that discourages them to oppose any wrong decision. Their FEAR factor is such that they feel afraid because they are alone, while MC has the other Members with them. But may cases where individuals have gone against the Builder and won the case.
3. They do not know how to proceed against the Builder and the MC collusion with the Builder.
4. Most important of all, almost in all Societies that goes for Members are generally not Agreement Experts to understand the Cause interpretation, hence they depend on other members who convinces others that Clauses are in favour of the Societies, while it may not be interpreted in favour of Builder.
5. MC gets Bank Guarantee but later the Builder convinced the MC to cancel the BG and from their starts the problems from the Builder in some cases.
and many others
Remember if you know the basic as above and more and you are ready to FIGHT, you will WIN
If there is difference of opinion among the office bearers n committee mrmbers in the selection of developer but the fraud members are not in majority, what are the remedies available. Can Secretary n treasurer challenge the process in MHADA giving the details of irregularities to MHADA n challenge this process.
Hello Sir, and a very Happy New Year to you. Looking at your interaction with the people who booked flats with Runwal and Lodha, I would like you to take a look at VTP Realty Group of Pune. Their projects VTP Purvanchal and VTP Celesta are still not complete after many years, and they have launched multiple projects in Pune simultaneously, including two large townships of 100 acres named VTP Blue Waters and VTP Pegasus. Both these townships were KUL Ecoloch and KUL Nation respectively, which were never completed and have now been taken over by them. Some things about their ventures just don't add up. Many people in Pune have booked flats with them en masse. It would help many if you could turn your trained eyes to this.
Kuch solution diya hi nahi.
Why is nobody asking for these issues to be fixed via regulation, building standards and their enforcement ? Hasn't this 🍌 Republic been around for 70+ yrs and why no standards yet ?
Making laws and rules has a limited utility. For instance, things are better now after RERA was enacted. However, loose interpretation and reluctant implementation of any laws and rules enables the rich and influential builders to get away.
But there is another factor enabling builders to get away, and that is the ignorance of flat buyers and their inability or unwillingness to fight for their own rights. I am trying to make a difference in this area, and I feel my efforts are met with reasonable success 😁
@@KrishnarajRaoUrbanNaxal no society can function without laws and their implementation. However in India things are different. For eg, when crime is committed against women, we are trained to blame culture and religion, while the actual reason is lack of policing and the alarmingly low policemen per capita that we have. Add to this the archaic colonial IPC.
The only solution to real estate related issues is to establish an organisation that will ensure that building norms and quality is adhered to. They should also be the guarantor if things fail. Very similar to what is done in the developed economies.
Otherwise we will spend our lives blaming the builders religion,caste, food preferences etc etc while conditions remain status quo.
And all this shouldn't have waited for 70 yrs.
Like rera and deposit insurance , maybe prophet chaiwala was destined to do these too while Oxbridge educated elites slept
True
Sir would like to draw your attention to a redevelopment project in Malad East.
I am a tenant in the building, which has been redeveloped for the last 10 years.
Name of the project is Hazel Homes.
Under SRA the builders M/S Nine Globe Builders, and all its partners, they have approved plan which states that there are 18 duplex and triplex flats in the building.
And they have sold close to 70 flats.
Please help us.
Thanks
This mostly happening in Mumbai now
In Mulund West by builder Anand Dargar of metro group....doing with many properties
sir humare case main BG nahi diya kyun ki woh 3 crores conservancy lane humare behalf mein kharidnewala hain
Hello Mr. Krishnaraj
We are in deadlock position with our redevelopment with builder Rustomjee. We had made an agreement on 2011, but till now our redevelopment has not started. Now we are asking our developer to develop our society as per DCPR 2034, he tells that he will not be able to develop our society as per DCPR 2034 and is adamant that he will redevelop as per our 2011 agreement only. We repeatedly asked him to give us writing on how much area, corpus fund, rent he is giving and details of bank guarantee, but he doesn't give anything. We want to take legal action against him, but we are afraid that the case may take another 10 years to get resolved. There are some MC members and some society Members are in builders hand and are stopping us from taking legal action. Could you please advice how should we go forward with this issue.
Did it get resolved?
@@nishakuttyphoto No solution.
Thank you sir for your guidance regarding redevelopment, but here I want to give one suggestion is self-Development is better solution on all this risky development. I know in self-development also there are some pro's and con's also. But on hind side flat owners would get good benefits than the benefits they would get in re-development from builder. Also the ownership would intact till the building gets completed. Please give your suggestion also.
Self development is a mixed bag. I will make a video about that also.
@@KrishnarajRaoUrbanNaxal ok Sir, Thanks for your revert .
@@KrishnarajRaoUrbanNaxal - hello Sir, our society is currently discussing redevelopment with a builder. I have some questions around it. How can I connect with you ?
Krish, what's your opinion on redevelopment of a society (basically extension of additional room for each unit) which is proposed to be done while the CGHS members continue staying within the building? Is it worth the risk then? Suppose structural audit allows for the expansion and extensions are legally ratified. (sorry to post this on a few of your related vids)
Take compensation money and run
Policy of builder to offer flat or flats from the sale component of the to-be-constructed structure as security to the rehab component instead of giving bank guarantee or surety bond. Shockingly Mumbai High Court has not questioned the adequacy of the above type of security policy offered by the redeveloper in place of bank guarantee or surety bond.
Aapne to Puri meri building ki hi reality bataa Dee hai Sir...
@@consultpunit which bldg. Where?
Same thing happened in Ghatkopar lower class chawl redevelopment project Miniplot
Most Important Topic.
We would be sealing in same boat which is above drown... Hope we win... We toh dont have conveyance also.
Sir aap se baat karni thi, kaise ho sakti hai please batayiye 🙏🙏
Suggest explain what is the value of the flat goes for redevelopment and what one gets.
Good question. I will make a video on this topic asap.
Es jaankaari ko sab log viral karo.jis sey koi bhi builders public public ko fansa nahi sakta.sab ki sab society waley advocate rakho.bigair advocate key koi bhi society waley kisi bhi builders ko apney advocate ki salah key devlopment ko mat do.
If redevelopment is fraught with difficulties and broken dreams, what would you recommend to a flat owner in a 35-year old apartment building?
Sell and buy another flat in a 5 year old bldg. Make money to pay the difference , or move out of the city.
@@KINGMJ1990 moving to a different city makes more sense, especially with remote working and rising cost of living in Mumbai.
IN LETEST NEW LAW IS BEING IMPLICATIONS SHORTLY IN MAHARASHTRA ALL SOCIETY MEMBERS FLAT OWNERS WILL GET PROPERTY CARD ALONG 7 /12 EXTRACT. ABP NEWS .
You mean to say that... Builder ke Piston me Lubricant Flat owners aur society khud lgaate hai,,😊
A member with law is majority.
Pls make video on SRA development
Kindly translate to English for greater reach.
Rent cheque will be paid by the builder in advance
Sir are u estate lawyer or legal consultant ??
I am an activist and journalist, not a lawyer. But people get a lot of legal and practical advice from me.
@@KrishnarajRaoUrbanNaxal sir how to avoid all such problems.
Is appointing a good Legal Consultant a Solution??
So as to get good terms in agreement from builder ??
#solution
What should people living in old buildings do, no one wants to buy their old flats, as the building look they may collapse anytime
Any suggestions?
Yes. Sell the land plot to the highest bidder and distribute the proceeds between the society members in the ratio of their carpet area.
@@KrishnarajRaoUrbanNaxal and move to juggi jhopdi in Delhi for free water , WiFi and electricity ?
@@discomallu9769 I don’t know about you but I bought a whole 4 Storey building with 3.5Cr in West Delhi prime Location, as compared to a matchbox in Mumbai.
And yes, Free Water and Electricity are just perks on top.
@@utubefreak7167 good for you, we all should move to Delhi as it sounds like a paradise.
@@KrishnarajRaoUrbanNaxal will selling the plot secure an amount close to value of flat?
society managing committee पैसे खाके डकार लेती हैं, तब तक builder सोसायटी का काम चौपट करके रफु चक्कर हो जाता हैं
आयओडी के बाद सीसी मिलने के लिए बिल्डिंग डिमॉलीश करके बाऊंडरीके बाहर चारो ओरसे पत्रा मारना जरुरी होता है।
बहोत डरा दे रहे हो.