Redevelopment of pagdi system building in south mumbai

Sammeer A Sange (Querist) 30 December 2016 This query is : Resolved
Dear Sir,
My father in law's building has been recently been sold to a builder and the builder is now the landlord. There is no society and the monthly rent is paid to the landlord.
He has bought 3 buildings in total next to each other in a row from different landlords similarly.
He wants to redevelop all the 3 buildings together.
All the tenants of the other 2 building have signed the Irrevocable Consent Form (no redevelopment agreement has been made yet) and now he has brought it to our building as our building was just sold last month.
The builder says that
1)Each tenant will get 300+105(fungible FSI)=405sqft in the new premises.
2) He is asking the tenants to sign the Irrevocable Consent Form for redevelopment.
3) He says this is the first step. This will be submitted to MHADA and then the officers from there will come and survey and demarcate the total area of the 3 buildings. Once that is done they will get complete all the legal paperwork required by the official authorities and will also make the Redevelopment Agreement which will specify the rent for alternate accommodation at the prevalent rates and its payment method, the area to given to them etc.
4) He has refused to give parking space individually and said that you can park in the compound which will be provided.
5) Structurally the building is not in a good shape with small rooms.

I request your advice as to should we sign the Irrevocable Consent Form now and is it ok that the Redevelopment agreement is made later or is it important to make the Redevelopment Agreement first.
Majority of the tenants have readily agreed for the redevelopment of the building and trust the builder but are confused as to whether they should sign the consent form now or not?
attached please see the format of consent form given for signature.
Thank you for your kind suggestions.

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adv.bharat @ PUNE (Expert) 31 December 2016
No u cant sign irrevocable consent form with out proper expert.

U had not attached any format or form for consent.

Please attach it.

Rajkumar Tiwari (Expert) 31 December 2016
How you can sign irrevocable consent form ? without knowing the terms and conditions of the development. Ask for draft of Development Agreement first, before signing the consent form from the builder and consult with good local lawyer by referring the draft of Development Agreement.

Rajendra K Goyal (Expert) 31 December 2016
You are to sign an important document, without referring full document to be signed nothing can be advised. It is better to have MOU mentioning all terms and conditions executed before signing any such irrevocable consent.

Do not sign any document without getting it vetted / approved by your lawyer.

Guest (Expert) 01 January 2017
I doubt whether it is SRA project ? Or some other special project ? Require document study in this case . Signing wrong deed or being under wrong impression will lead you in trouble. First get property land record card from city survey office and check who is owner on record. Latter check whether this building is declared or structure in slum area zone or so ? Latter some thing can be told. There are other categories of building too in Mumbai like cess building etc so detail study required

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