Redevelopment process

STEPS INVOLVED IN THE PROCESS OF REDEVELOPMENT  

1)     Data collection and Preparation of feasibility report.

2)     Preparation of tender document and invitation of the offers from developers.

3)     Scrutinize the offers received from developers and finalize one developer on the basis of his offer, his market reputation, goodwill and his financial capacity.

4)     Prepare development agreement and finalize building plans with the selected developer.

5)     Preparation of municipal drawings and submitting the same in M.C.G.M. for I.O.D.

6)     Purchasing T.D.R. and Approving the building plans in lieu of purchased T.D.R. in M.C.G.M.

7)     Vacating and handing over the vacate and peaceful possession of the  building to the developer.

8)     Obtaining plinth C.C. from M.C.G.M.

9)     Completing the work upto plinth level and obtaining further C.C. for the entire work.

10)  Completion of the entire construction work.

11)  Obtaining occupation certificate of the completed building and giving possession of new flats to the members.

for more information

log on to     www.redevelopmumbai.com

Redevelopment or repairs ........ confused ???

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

leakages in building is a common problem and if not attended properly it starts eating the structure from within, hence i advice all those buildings which are built more than 30-40 years back, must contemplate the idea of Redevelopment only rather than wasting time and money on repairs... somethings are beyond repairs, be it stubborn woman or old dilapidated building ..

visit us at               http://www.redevelopmumbai.com  

Redevelopment simplified....Bombay times dated 06/07/13 (page.no.11)

Utkarsh Jani-(Project Management Consultant)

Edifice Erection Pvt. Ltd

Redevelopment simplified

Question 

We are a housing society going for redevelopment, but we are confused about which individual carpet areas to be considered, given in the agreement or as per physical measurements of flats?

Utkarsh simplifies  

Freezing individual carpet area is the most important and first step towards Redevelopment, as all the calculations are based on the area consumed by society members viz a viz plot area. Also the existing member’s fungible F.S.I. calculation is based on existing carpet area.  The carpet areas have to be worked out from approved plan copy of BMC by a licensed Architect. In case, Approved BMC plan is not available then the area as per assessment records is considered and if both records are not available then only physical survey of typical flat  (unmodified- original ) should be carried out and that carpet area should be considered.

Question

What is fungible FSI?

Utkarsh simplifies  

Fungible F.S.I. is additional F.S.I. allotted over and above the proposed principle F.S.I. The fungible F.S.I. is maximum 35% over principle F.S.I. in case of residential units and 20% over principle F.S.I. in case of commercial units. The said fungible F.S.I. can be utilized as a balcony, dry balcony, flower bed or can be utilized as part of area inside flat or shop

Question

If any member is in possession of Terrace or Garage then How to compensate such Private terrace areas and Garages.

Utkarsh simplifies  

As per previous policy of development, the terraces and garages were not counted in F.S.I. The terraces are meant to be the common areas or non accessible areas and garages were meant only for parking. However in old days developers used to sale those areas to the members. In case of garages the same used to get converted into shops and offices and used for commercial purpose. Now as per new policy covered garages and terraces attached to the flats are counted in F.S.I. and hence if the members are to be given alternate terraces and garages the same are to be counted in F.S.I. which will be loss to the society. Against all odd once in possession of garages or terraces members are always reluctant to give away the benefit of the same.

    There is no rule as such to compensate garages or terraces, however as a market practice to compensate terrace area, 1/3rd of the terrace area is given against terrace and for garages, and alternate parking space in stilt area is given or monetary compensation is offered.

For any queries

Utkarsh.jani@edificeconsultants.in

www.redevelopmumbai.com  9833890140, 65520686, 28984915

already inquiries and questions are flooding in....

shall choose only interesting questions, and will be answered in my next column..