Compensation to a flat owner

anckoora (Querist) 09 December 2011 This query is : Resolved
Dear Sir,

Facts : In Mumbai, a flat ( worth 50 lacs ) is purchased on 5th floor in a Apartment ( having total 7 floors ) which is 5 years old and it is a duly registered co-op society.
Now, in a major earthquake in Mumbai, this apartment collapses totally.
So, my 50 lacs is gone. What can all flat owners get from government ? Will government build up the building and give flats to all the flat owners ?
In short, in few seconds , is my 50 lacs gone ? or I have any other alternative ?
pl. advise. Since the society was registered, the land on which that apartment was built, again apartment can be built (if all flat owners agree ) ? If yes, who will give fund ?

In short, what can be scenario in such situation ? If answers to all above question is negative, then it means that as a clever man, one has to buy tenement. Incase, this tenament is collapsed, then land is still there with you & you can re-build. As a flat owner, you loose everything. Am I right.

Experts, please give your expert views on above...
thanks
anckoora

anckoora

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V R SHROFF (Expert) 09 December 2011
anckoora

how many persons you consulted, and what were their advise? what was your action??

or you were sleeping from 26th January 1999? till date?? after 12 years!! and asking now?
Law do not support, who sleep so long.

Probably everybody forget about the earth quack, and you r also advised to forget earth quack.

Can you please let me know your building name & address ??

prabhakar singh (Expert) 09 December 2011
yes! you are right!

Shonee Kapoor (Expert) 09 December 2011
Agreed.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

anckoora (Querist) 10 December 2011
Dear All Experts,

I only want to know that in case of such eventuality, what happens to a flat owner ? He looses everything ? Is a tenament owner is better protected than a flat owner ?

Pl. advise.

prashant pundhir (Expert) 10 December 2011
Don't you worry mr.Anckoora ,but it is a matter of co-operative society,so first you need to go through the constitution of your society and if there is any provision regarding this,you can get your money back .