Redevelopment
Why redevelopment?
1. You will get a new construction in place of the old construction with the cost of construction and other incidentals borne by the developer.
2. You get large and remodeled homes that come with the latest amenities and features.
3. Parking spaces are increased and each unit gets at least one car park.
4. The new buildings have automatic elevators, power back-up for common areas and enhanced safety and security features.
5. There is great value addition to your homes and your general lifestyle is improved.
6. You get all this and more from the comfort and convenience of your existing location.
Redevelopment process
1. Societies decide to go for redevelopment internally.
2. They then look for developers and invite proposals for redevelopment.
3. Interested developers visit the society and check the potential of the plot after collecting the necessary documents from the society.
4. Proposals are then made to the society. These proposals include the proposed additional area, amount to be paid for alternative accommodation, facilities to be provided etc.
5. These proposals are shared with the society members and their suggestions are sought.
6. Based on the suggestions received, the proposal is finalized after further discussion between the developer and the society committee.
7. The final proposal is placed before the General Assembly and approved by the General Assembly.
8. After getting the approval the work starts to prepare the plans of the new building and then these plans are shared with the society.
9. A society approves the scheme; They are submitted to the concerned authorities for their approval.
10. Notice to vacate the seat is given to existing members after approval. After that the construction work starts.