When the house is ready, each flat owner can buy a separate home insurance to insure the proportionate structure and content costs
I am giving my Mumbai house for redevelopment into a multi-storey building. In return, I will get ownership of two floors and some lump sum. In the meanwhile, I will live on rent. I have a comprehensive home insurance policy with a rent-paying clause in case of damages. Will that apply during redevelopment? Will I be able to transfer the policy to at least one of the new flats I will own?
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