Owners of a residential apartment complex in Chennai have informed the Madras High Court that a majority of them have decided in favour of redeveloping the property instead of reconstructing it. While reconstruction means rebuilding a structure exactly as it is, redevelopment involves constructing a new structure with a completely new plan and dimensions.

A two-member committee appointed by the court submitted that of the 351 flat owners, 216 agreed to the redevelopment of the property, while 135 owners voted for reconstruction. The decision was made during the general body meeting of the Flat Owners’ Association.

As per a recent rule by the state housing and urban development department, the decision to redevelop a property must be agreed upon by at least two-thirds of the apartment owners.

According to the court-appointed committee, former judges inspected 321 flats, and keys of 310 flats had already been handed over to the developer. An expert committee from IIT-Madras found the apartment buildings unsafe for living. Though the developer agreed to demolish and rebuild all three residential buildings, the Owners Welfare Association moved the high court seeking a directive for the developer to deposit ?106 crore toward rental accommodation for the flat owners until the buildings are reconstructed or redeveloped.

https://www.livehomes.in/news_letter