Hello everyone,found this forum while Googleing,i need some Help regarding selling flats on ownership basis to 30 year old rent Tenants we Have an Building which is in name of my Grandfather,there are total 25 flats,17 flats are sold on ownership basis,3 flats are owned by my family,5 flats are on rent since the building came into existence that is 30 years ago. I am thinking of reconstruction of the building,our building is not yet a "Co-operative society".I Have some questions,
1.I am thinking of selling this 5 rented flats to respective families.they have been giving rent of 60 rs per month to us since last 30 years which is 1/2 rent,1/2 rent is covered from deposit that they gave us 30 years back.Real estate price in Our town that is Kalwa-thane near Mumbai is Rs 5000-7000 per Sq ft.
[A]My question is can i be able to sell them flats on ownership basis at market price before giving the building for reconstruction to builder ? if Not market price,then what price per Sq ft can i set to sell them on ownership ? All the tenants gave us 20000 deposit 30 years back,out of which nearly 18000 Rs 1/2 rent is done.
[B]Can i have an "Non-disclosure agreement" with the tenants ?,so that they don't disclose the price at which agreement was done to each other.Problem is 2 of the 5 tenants are very rich and have been forcing of ownership.They own 3 BHK elsewhere and plan to sell the flat after purchasing it from us and after new building is done.
2.this 5 flats are on the name of my Grandfather who died without a Will,he had 2 sons,2daughters.Elder son[my father] died too leaving two sons.So now Legal heirs are me and my brother,My uncle and 2 daughters of my grandfather.so while having an agreement who will be vendor in the agreement,i have some Dispute with the one of the daughter of my grandfather that is my aunt,but she wont go to court neither will she give us her sign.can we Make agreement ourselves as vendor that is Me,my brother,my uncle and one daughter ? i am ready to sell the flats with concern of my brother,uncle.will it be fine till she has no objection
3.after selling this 5 flats we will only have 3 flats on our possession in the building,there will be 22 other tenants.we Have 7/12 extract and property card on our grandfather's name.will i Lose my right on the building,that is will i be able to give the reconstruction to builder of my choice and also gain something from it since we are looking to reconstruct multi-storey tower from 3 Floor apartment? Please answer my 3 queries !! :)
