Redevelopment , need of an Hour

WHAT IS REDEVELOPMENT?

Redevelopment is the process of demolishing existing old society building and reconstructing it by appointing a good developer who can construct and handover new flats to the society members free of cost with some additional benefits and make profit by utilizing balance plot potential by constructing additional flats and shops as per approval from M.C.G.M.

ADVANTAGES OF GOING FOR REDEVELOPMENT OVER REPAIRS

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

Repairs                                               Redevelopment

1) The repair work can increase life     Redevelopment gives a new  building

of the building by 3 to 4 years and       for which no major repairs required for

the problems can reoccur after few      longer period.

years.       

2) The old buildings are designed         New building is constructed with new

with old construction norms and          construction norms and hence can

hence cannot withstand with new        withstand with new climatic and

climatic and geographic conditions.      geographic conditions.          

3) For repairs members have to            In redevelopment, members get

spend money.                                        benefits in terms of money as well as

                                                              additional area.

4) In old building the steel inside           As the building is new this issue does    

concrete beams and column starts        not arise.     

corroding after 15-20 years which          

cannot be treated in repairs.

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