Your agreement with realty re-developer must be drafted very carefully

The housing society should ask for an adequate bank guarantee and upfront payment for transit accommodation before agreeing to a re-development project

The Maharashtra Real Estate Regulatory Authority (RERA) plans to ask the state government for more powers to be able to adjudicate over certain redevelopment projects that currently don't fall under its purview. While changing the laws to give the necessary powers to RERA will take time, residents need to exercise due diligence before entering into a redevelopment agreement with a developer. 

In some redevelopment projects, the resale component (which the developer sells to new customers) may be less than eight apartments. Such projects fall outside RERA's purview. Second, the original residents do not pay any money to the developer. The