Mumbai | 17 Dec, 2020 (2 years, 3 months ago)

Property Law

I need advice on my property stuck in a stalled redevelopment project

My property is under a stalled redevelopment project. Building was demoslished in 2009. Project was supposed to be completed by 2012. Project was of 22 floors but as of 2020 only 9 floors are built. Builder paid us rent till 2014. After 2014 builder neither paid us rent nor did he finish the project. Building is not RERA registered. Tenants have filedBuilder has taken loans from several banks and banks have attached his properties due to failure in loan payment. Tenants have filed cases against him in Bombay High Court, but there's no result of that case. MHADA had auctioned some of his properties to pay rents of tenants but still some properties are yet to be auctioned. There are articles posted about this project in newspapers. You may read them from the links mentioned. 1. 2. 3.
19 Dec, 2020 | 09:30

If you want your money and dues immediately and don't mind incurring a little loss, then along with other tenants you should be able to file a petition under IBC. Otherwise, implead yourself in the case before Bombay HC. The last option would be to file a consumer court.

Asker 01 Jan, 2021 | 17:12

okay, but can i sell my property to any bank? Because a bank which had given loan to the builder had shown its interest in buying tenancy rights from tenants. Either the same bank or any different bank, is it possible that i can sell my tenancy rights of a property which is still under redevelopment.

Meenal Garg 26 Dec, 2020 | 09:28

file an application for contempt in which the court sometimes grants higher penal interest.

Asker 19 Dec, 2020 | 15:32

The links which i mentioned had one case where a buyer had filed a case in Consumer Court, and the buyer won the case, but still hasn't received the property nor the equivalent sum. So even if the courts order in buyers/tenants interest, the builder doesn't abide by the order. What shall one do in such case? Anyways Thanks for your advice


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