Many of you may be living in an old apartment building (may be even around 25 years old or more) with issues like leaking roofs, worn out water pipelines, toilets , lack of spaces, old style layout, narrow stairways etc.
Some of you just happen to be living in a small old bungalow built on a huge plot of land in a large city, which has now got a prime real estate value.
Some of you may be living in an apartment building with just few apartments built on a large plot, which you become aware that new apartments in the same location may give you a huge asset value
If you have any reasons similar to above , you should think of redevelopment.
Many societies are not aware about the process. I am just explaining you the broad process as below:
1) Prepare a Redevelopment committee comprising of Chairman, Secretary & all other important & active members of your housing society
2) Consult a Legal advisor - first & foremost to check various legal issues about your property like society formation, conveyance deed , land documents, demarcation etc etc.
3) Consult an Architect to work out the Broad Feasibility for the project. Architects will give you a feasibility report (We do this !)
4) Prepare an overall file with all photocopies of latest documents, drawings, data about the plot & building & approach various reputed Developers for their quotes as to a) How much extra area they will give back to you (generally it is worked out based upon existing carpet area) b) Kind of materials & Finishes they will be giving c) Other terms & conditions like Time line for redevelopment , rent for interim accommodation while construction is on etc
5) Alternatively Hire a Project management firm , if the society would like to carry out redevelopment without Developers
6) Selection of Developers ideally must be done in consultation of appointed Architects & Legal advisors.
7) Follow all legal steps like Memorandum of understanding & Agreement with the Developer agreed upon with total consultation of your Legal advisor
8) Asks for various alternative Designs & plans from your Developer. Have them scrutinized & checked by your Appointed Architect. Ideally all plans should be given to all society member household for their comments. If the deal is based upon existing carpet areas, have carpet areas measured of all flats through the appointed developer & ask your architect to have a random check of various dimensions in the existing area plans given by developers
9) Have a Final signoff of the designs in total consultation with your appointed Architects before the developers give them for sanctioning to Municipal corporation.
10) Confirm from the Developer that he has applied for additional TDR etc before construction begins
11) Have regular in between on site checks for all stages of construction through your appointed Architects
12) Ensure that when your flats are being constructed , the areas agreed upon are actually followed
13) Ensure that you get the same specifications & finishes as agreed upon by the developers. Same should be checked by your appointed Architects
Redevelopment is an ideal mode for having a new apartment, because apart from everything else, it gives you 'Big Chance' to get the overall plan of your apartment 'The way You want' instead of buying a prebuilt apartment in any new building where you have to make lot of changes.
Ar. Hrishikesh Ashtekar
Some of you just happen to be living in a small old bungalow built on a huge plot of land in a large city, which has now got a prime real estate value.
Some of you may be living in an apartment building with just few apartments built on a large plot, which you become aware that new apartments in the same location may give you a huge asset value
If you have any reasons similar to above , you should think of redevelopment.
Many societies are not aware about the process. I am just explaining you the broad process as below:
1) Prepare a Redevelopment committee comprising of Chairman, Secretary & all other important & active members of your housing society
2) Consult a Legal advisor - first & foremost to check various legal issues about your property like society formation, conveyance deed , land documents, demarcation etc etc.
3) Consult an Architect to work out the Broad Feasibility for the project. Architects will give you a feasibility report (We do this !)
4) Prepare an overall file with all photocopies of latest documents, drawings, data about the plot & building & approach various reputed Developers for their quotes as to a) How much extra area they will give back to you (generally it is worked out based upon existing carpet area) b) Kind of materials & Finishes they will be giving c) Other terms & conditions like Time line for redevelopment , rent for interim accommodation while construction is on etc
5) Alternatively Hire a Project management firm , if the society would like to carry out redevelopment without Developers
6) Selection of Developers ideally must be done in consultation of appointed Architects & Legal advisors.
7) Follow all legal steps like Memorandum of understanding & Agreement with the Developer agreed upon with total consultation of your Legal advisor
8) Asks for various alternative Designs & plans from your Developer. Have them scrutinized & checked by your Appointed Architect. Ideally all plans should be given to all society member household for their comments. If the deal is based upon existing carpet areas, have carpet areas measured of all flats through the appointed developer & ask your architect to have a random check of various dimensions in the existing area plans given by developers
9) Have a Final signoff of the designs in total consultation with your appointed Architects before the developers give them for sanctioning to Municipal corporation.
10) Confirm from the Developer that he has applied for additional TDR etc before construction begins
11) Have regular in between on site checks for all stages of construction through your appointed Architects
12) Ensure that when your flats are being constructed , the areas agreed upon are actually followed
13) Ensure that you get the same specifications & finishes as agreed upon by the developers. Same should be checked by your appointed Architects
Redevelopment is an ideal mode for having a new apartment, because apart from everything else, it gives you 'Big Chance' to get the overall plan of your apartment 'The way You want' instead of buying a prebuilt apartment in any new building where you have to make lot of changes.
Ar. Hrishikesh Ashtekar
