There are several benefits of redevelopment, such as new structure, increased area, source of revenue for Societies in metro or semi metro cities like Pune, Mumbai, Nashik, Kolhapur. Vertical growth in the cities helps in upgraded amenities, adequate parking space, increased functional space etc.

There are several documents which are required in the process of redevelopment but to begin with redevelopment process the Society must have atleast 2 documents i.e. one is conveyance deed & second is 7/12 extract or property card.

Process of redevelopment goes through various stages & compliances however largely the process can be divided in 8 stages

1. Approach & preparation towards redevelopment
2. Appointment of developer as per GR dated 4/7/2019
3. Documents & Compliances
4. Plan approval & building permissions
5. Relocation & vacating the existing building
6. RERA registration & development as per sanction plan
7. Repossession of new flats
8. Post redevelopment compliances

Project feasibility has to ascertain in 2 parts – 1^st is technical feasibility & 2^nd is financial feasibility & both combined gives you the project feasibility.

In  technical feasibility it is ascertain that how much FSI could be utilized in redevelopment against land of plot of the  Society & such utilization differs depending upon various factors such as location of the plot, width of the approach road, dimensions of the plot, applicable side margins, desire for height of proposed buildings, ventilation requirement etc. As against in financial feasibility report principally it is ascertain that whether the project is financially to viable to achieve profitable redevelopment & there are several factors such as market price, existing utilization, parking requirement of the Society members etc. which predominantly decide the financial violability.

Society is expected to publish public notice in the local news paper to call upon developer to submit their tenders for development of Society. Pursuant to receipt of minimum 3 tenders from the developers, the Society needs to make an application to the Co-operative Registrar to invite the Registrar to the Society for opening of tender & selection of developer process & the same is capture via video recording as well & in this manner the Society shall appoint the developer.

Yes, like Co-operative Societies, Condominium of Apartments can also go for redevelopment. However in the case of Condominium participation & confirmation of all 100% member is required unlike in Co-operative Housing Societies 51% majority can take the decision of redevelopment.

As per the GR dated 4/7/2019, the government has strongly recommended that a government approved Architect or Project Management Consultants needs to be appointed. Apart from guidelines it is always beneficial for the Society to appoint both the experts as the appointment of these experts would give better control to the Society to undergo the process of redevelopment.

Structural audit after 30 years & more shall provide the vital information on age, strength & stability on the structure, intern this information shall aid the members to make informed decision about redevelopment & this brings in the necessary transparency in the entire process.

As per the Government Resolution dated 4/7/2019 it is necessary that the experts are appointed before the 1^st SGBM wherein they would provide the project feasibility report etc.

Yes, the Unified Development Plan Control Rules 30% of the existing built up area is granted to Societies who are 30 years old (kindly note that the % mentioned above may differ from corporation to corporation)

It is a mode of redevelopment where society with its own funds redevelops its property without intervention of developer. Here the society being the owner acts as a Promoter & causes development by appointing several agencies & professionals for the project.

Yes self development is more beneficial for the Society as Society could get more increased area in comparison with what developer could offer to the Society. Apart from that in the self development Society is in full control of the project which also avails an opportunity of the Society to participate in designing & planning part of the redevelopment. Further more chances of project failure are very thin as compare to development through appointment of a developer.

Mumbai District Central Co-operative Bank is the only bank who had taken initiative for funding redevelopment of Housing Societies however they have limited their scope only for the properties in Mumbai as such as on today there is no real financial solution for Societies who are desires of self redevelopment. However self development can be made possible with acute financial planning with the help of Project Management Consultants.

In self development entire risk of managing funds for redevelopment lies with the Society. Further more funds are generally collected through contribution from all the members as such & any financial failure from any member would have impact on the progress of the work. However such risks can be eliminated by appointing Project Management Consultants.

Largely speaking there are 2 key factors namely

• Additional areas to each member
• Other benefits

Other benefits such as:

1. Transits period rent
2. Deposit for acquiring temporary accommodation
3. Shifting charges
4. Bank guarantor
5. Corpus funds to Society
6. Betterment charges etc.

7. However above all it is very crucial to know your potential first to get better negotiations with developer.

The society needs to follow all the guidelines mentioned in the GR dated 4/7/2019 in later & spirit then such question probably would not arise.