Dear All,
I am coowner of a property known as Saburi, Vakola, Santacruz East.
Here r details of the property.
As per a senior architect the even going by a conservative calculations the property will fetch a sale price of Rs 24 Cr.
But when I want to sell to a builder they r offering Rs 10 Cr. The cost of constructions will be Rs 6 cr. .
So by investing their time, effort and money ( Rs 16 cr ) (that too not in one go and in many cases on Bhumi puja they r able to recover quite a handsome amount)
the builder will earn 9 CR in 2 years. Nearly 40% return per annum. Here we have not considered price rise benefits which a builder will have in next two years, he will sell garage/ parking spaces etc etc ...
That is how builders have become 0 cr party to 1000cr to 1lac cr parties in last 20 yrs.
The redevelopment does not require any extraordinary skills. Architects, civil engineers, contractors, etc etc r available at one call but what makes landlord fails is :
- outdated Rent act
- Indian rent act courts ( In MH they call it small causes courts???? Funny is n't it??? Is property a small issue?? ) which takes 25 years + for deciding matters and gives stay/ injunctions thru influential advocates who share the booty ( they do not charge fees but ask for a bigger share) who further share it.
- Finance Ministry, RBI, Banks. : While PM,FM,RBI and SBI allowed to give 1500 cr of common men to one dacoit Vijay Mallaya who watered it in to drains but same ppl do not allow financing land owners against their valuable property.
What I want:
- I just want Rs 2.5 cr for ( which is less then then 25% of market value of property ) from banks or financiers to redevelop my own property preserved for decades inspite of harassment by tenants and courts , hardships, losses on daily basis.The property will be fully mortgaged to banks/ financier. If they like barter then we can give them area against loan amount in newly constructed building.
- Some body of panchas / group of citizenery from neighborhood from area who will measure ( I do not want ppl from govt and politics who r purchasable commodity) who can record actual area let out to tenant ( as all tenants r using / claiming extra rights which becomes bone of dissensions) so that I can rehabilitate tenant post redevelopment.
- One window approval for building proposal so even other then mafias do redevelopment. presently even after giving bribe of Rs 500/- per sq ft to BMC staff getting plans sanctioned is nightmare.
Is some one listening??? No as Builders/ BMC/ political mafias/ headless media, influential advos who want fight as they can thrieve hv a huge nexus and strong lobby so they wont mind if buildings fall and lives r lost but they wont let landowners and tenants to live in peace and cordiality.
Alok Tholiya,
• Pl. fwd./ circulate this mail if you think the issues raised here needs wider audience.
• Let us make our city beautiful, disciplined and Loveable.
Let us handover to our future generation a better place to live in.
• www.digambarjains.com : The matrimonial web site for Digambar Jains
Marigold Hall,Tholiya Bhavan,
10Th Rd., Santacruz East,
Mumbai 400055
9324225699
" Intense hate anywhere interferes with love everywhere ! "
• Pl. fwd./ circulate this mail if you think the issues raised here needs wider audience.
• Let us make our city beautiful, disciplined and Loveable.
Let us handover to our future generation a better place to live in.
• www.digambarjains.com : The matrimonial web site for Digambar Jains
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MARKETPLACE
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