Do roof rights have any value?- Property Hotline

Expert: Vinay Singh, Legal & Tax Expert.
Question: I own the first and second floor of a residence in New Delhi. The ground floor has another owner. I wish to either redevelop my floors with the help of a builder or completely sell them off. Can I redevelop my property by giving one floor to the builder? Also, do roof rights have any value?
Answer: You may redevelop the property if you have the proper sanctions to do so and together with your co-owner. You may own a private terrace but even if there is an agreement selling you a common terrace it would not be legal.
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