Redevelopment                   Why Redevelopment?                   Advantages of Redevelopment              Documents required for redevelopment

Why Redevelopment?
  • Corpus Fund could be achieved which would take care of original member's share of the Maintenance cost of the new premises. Otherwise this amount could be utilized for other purposes as per the decision of each individual member Apart from the additional area that each society member would get in the newly constructed building as Compensation from the developer, if any society member requires additional accommodation in the same building, it can be achieved by purchasing additional space from the developer at the best available price. This would enable the family to live in the same vicinity .
  • Rental Charges for the alternate accomodation is provided to each and every member of the society while the they are away when their building is being built Modern amenities and electronic gadgets are being widely used making life more luxurious and safe. Modern gadgets such as close in circuit cameras, intercom systems, smoke detectors, fire fighting alarm system, metal detectors, high speed elevators etc, are common in redeveloped societies
  • These complexes and towers have excellent stilt or sometimes underground parking facilities which eases the traffic congestion in the society premises. This not only saves precious space but also ensures discipline traffic flow in the society premises.


Advantages of Re-developement Over Repairs:

Today the societies are opting  to go for redevelopment than repair for the following reasons :

  Repairs   Redevelopment
a) The repair work can increase life of the building by 3 to 4 years and the
problems can reoccur after few years.
  Redevelopment gives a new building for which no major repairs required for
longer period.
b) The old buildings are designed with old construction norms and hence cannot
withstand with new climatic and geographic conditions.
  New building is constructed with new construction norms and hence can
withstand with new climatic and geographic conditions.
c) For repairs members have to spend money.   In redevelopment, members get Benefits in terms of money as well as
additional area.
d) In old building the steel inside concrete beams and column starts corroding
after 15-20 years which cannot be treated in repairs.
  As the building is new this issue does not

Thus in redevelopment, the members get new  fresh building + additional area + monitory benefits without spending any money  from their own pockets.


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