I've heard about redevelopment projects where residents need to hand over their keys to developers. Should I be worried about this?

Can the management committee impose penalties or take disciplinary actions against members who violate society rules?

How does the Act deal with financial matters within a cooperative housing society?

@SubodhGade The terms of ownership should be clearly stipulated in the redevelopment agreement. In some cases, you might retain ownership of the property, but it will be subject to the new development plan. Make sure the agreement addresses ownership rights, usage, and any ongoing obligations you might have.

@Vibha-Vaidya Local authorities oversee the legality of the process by reviewing and approving development plans, ensuring adherence to zoning laws, building codes, and environmental regulations. They also manage public hearings and permit issuance.