Legal Question in Real Estate Law in India
My father owns 500sqft. 1bhk flat in goregaon mumbai. Our society is going under redevelopment. Builder is giving 35% extra sqft as redevelopment benefit to us. Also builder is offering additionally 100 sq ft with reduced purchase rate. Our plan is as follows
1) My father will keep the new home to 1 bhk 500 sqft only.
2) I will purchase new flat of 450 sqft adjoining to above mentioned flat.
3) I will ask builder to divert additional 35% (175sqft) to a new flat also I will ask him to give benefit of 100 sqft reduced rate to me. Rest 175 sqft, I will purchase with market rate. I want to show this new flat completely on my name & want to take home loan against this flat. Later we want to merge both flats.
4) Right now I don�t have any stake in the existing flat, nor I am the co-owner of existing flat. I don�t want to be co-owner of existing flat.
My question is how we can make / what are the ways to make our above mentioned plan to reality.
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