Compensation for Terrace flat

Dear client,

A developer cannot unilaterally walk away, hand a project to another builder, and leave members stranded without transit rent or compensation.
Under Indian real estate and housing society laws, you and your society have strong legal protections against this.
Under the Real Estate (Regulation and Development) Act, a promoter cannot transfer or assign majority rights and liabilities of a real estate project to a third party without prior written consent from at least two-thirds of the allottees/members and prior written approval from the State RERA Authority.
Steps you need to follow immediately-
The Managing Committee must immediately table the builder's default and unauthorized transfer.
Pass a resolution declaring the transfer unauthorized and resolve to take legal recourse.

Send a stern legal notice to both the original builder and the incoming builder through an experienced property advocate.
Put the incoming builder on notice that any unauthorized work on the property constitutes trespass, as no valid, registered contract exists between them and the societ
Approach your State RERA Authority against the original builder for illegal assignment under Section 15, failure to pay agreed transit rent, and project abandonment under Sections 7 and 8.
Seek directions for payment of arrears and appointment/regularization of a developer under regulatory supervision.
If the original builder has committed fundamental breach of the Development Agreement, the society can terminate the Development Agreement and revoke the registered Power of Attorney to prevent any third-party rights from being created on society land.
If the new builder attempts to carry out work or coerce members without signing an agreement, file an application for a temporary injunction before the competent Civil Court or Co-operative Court to halt all on-site activities.
Gather all copies of the original Development Agreement, the sanction letters, and payment receipts

Most importantly an advocate expertising in RERA matters needs to be consulted.