Hi Experts,
We and our parents own an apartment each in a housing society in Mumbai. We are right now staying in Hyderabad, because of my and my husband's job. Our building in mumbai is only 18 years old, which went through a thorogh renovation with 1.5 -2 crore rupees 5 years ago.
We had a new secretary last year(previously my father was secretary). The new secretary has been pushing for redevelopment of the building. He has bring some unknow builder and got proposals for redevelopment. In the redevelopment we are just getting 15% more carpet area(a few more members who have smaller apartment are getting 25%), and there is no corpus fund/security deposit provided by the builder, only rent during the construction time which is 3 years and rental security deposit of 2 lakhs and developer will bear the govt charges like stamp duty+registrration etc. The consent letter which we were asked to sign is completely one sided(like irrevocable, only society members will be in touch with builder and their decision is final etc). My father being a secretary himself for many years, he straight away said no as he found its very risky and we would end us loosing our only apartments. Since my father said no, the society management are not informing us, and doing all redevelopment paper work without knowledge.
Only way we are getting to know is from a couple of residents in the apartment with whom my father is in touch with. Most of the residents are pretty ignorant and uneducated, they were told that building will collapse very soon(remember its just 18 years old, and we have through renovation 5 years ago with cost of 1-2 crore rupees).
We strongly feel the builder + secretary are in nexus given that background of secretary who runs grey market business. We are not able to understand what we need to do next, as it appears that secretary is going to get 75% of consent as majority of members are gullible and we staying away from the building, unable to influence anyone.
Please advice, would we forced to forgo apartment for a bad deal? Can we approach court even if we are minority stake holders? Personally we don't have problem with redevelopment, however (a) we are not getting fair deal as our apartment size is larger than majority of the members (b) builder is completely unknow, can't even find in google.
Thanks,
Menaka
