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.
