The property in question is in Mumbai Suburbs.
Original 6 stories Building was constructed 40 years back.
Builder added 5 more floors 10 years back using TDR. Flat for sale is on 8th floor. Front road is 30 feet wide and side road is 40 feets wide. In the back there are other buildings.
What are the consequences of buying a flat in a TDR building?
Since the original building is quiet old the redevelopment might happen anytime in near future. Will any builder be interested in redevelopment of such building where TDR is already used?
What will happen when building gets too old (or faces any natural calamity) to live in safely and must be demolished and redeveloped? If no builder is interested in TDR building what will be future of the existing flat owners? Will flat owners have to contribute from own pockets to build a new structure?
Please help clarifying whether it's a good idea or bad idea to buy a flat in TDR building.
Very urgent.
