Main reason to go for Redevelopment - Utkarsh Jani

Redevelopment word is a buzz word right now and we see everywhere redevelopment is going on in Mumbai city, hence we wanted to find out what is the main reason to go for such redevelopment and we carried out a survey by asking 1000 society members to know their preference to go for redevelopment . each individual has separate needs and preference but surprisingly one preference of additional area was prominent factor for most of the members. Results of our survey are as follows:

What is the main reason to go for Redevelopment for housing societies?

TABLE NO 5.12: REASON FOR REDEVELOPMENT

Additional area (Extra bedroom)	650
Corpus for future maintenance	50
Amenities and modern planning	150
Existing Dilapidated building	150
TOTAL	1000

CHART NO 5.12: REASON FOR REDEVELOPMENT

INTERPRETATION:

Here, it has been clearly understood that the main reason of redevelopment is additional space for housing society members as 65% respondents think that they need additional space for their families, 5% respondents need Corpus for future maintenance and 15% respondent need amenities & modern plan and remaining 15% go for redevelopment as their existing building is dilapidated and cant sustain for long.

© 2014 Utkarsh Jani

All Rights Reserved by Utkarsh Jani.

Criteria for selection of a Builder for Redevelopment Project - Utkarsh Jani

Developer Selection is the most important thing as it is only the Developer/Builder, who will complete the project. we have asked this question to almost 1000 society members to know their pulse . We gave them four choices and asked them to suggest most important criteria according to them and the results are as follows:

What is the main selection criterion while selecting a developer for redevelopment project?

TABLE NO 5.11: SELECTION CRITERION

Financial standing	150
Reputation in the market	200
Experience of Redevelopment	150
Good offer	500
TOTAL	1000

CHART NO 5.11: SELECTION CRITERION

INTERPRETATION:

From above it clear that 50% respondents select  good offer as an important criteria while selecting a developer, 15% respondents prefer their financial standing and another 15% prefer Developer's Experience of redevelopment and 20% respondents do select a developer for their reputation in the market for redevelopment project.

© 2014 Utkarsh Jani

All Rights Reserved by Utkarsh Jani.

Redevelopment in Mumbai is more beneficial to builders- Utkarsh Jani

When any housing society goes for redevelopment, their members feel that it will be more beneficial to them but when redevelopment project starts , their perception changes, hence we asked almost 1000 housing society members a question, that who gets maximum benefits in any redevelopment project and their replies and its interpretation is as follows :

Redevelopment is more beneficial to developer than old members:

TABLE : BENEFICIAL TO DEVELOPER

Strongly agree	10%
Agree	30%
Neutral	30%
Disagree	20%
Strongly disagree	10%
TOTAL	1000

Sample size : 1000 members of housing societies 

CHART NO 5.9: BENEFICIAL TO DEVELOPER

INTERPRETATION:

From above it has been observed that 40% respondents Agree on the statement "redevelopment is more beneficial to developer" whereas, 30% respondents disagree with the same and 30% respondents are Neutral.

This is the general perception among housing society members that Redevelopment is more beneficial to Builders & Developers, as they are on the driving seat of the entire project and maneuver the directions as per own benefits and profits ..

Research work carried out by Utkarsh Jani

© 2014 Utkarsh Jani

All Rights Reserved by Utkarsh Jani.

Redeveloping: the Need of the Hour

REDEVELOPING: THE NEED OF THE HOUR

Madhya Pradesh

Century Golden Brick Awards 2011

COMMUNICATION FEATURE  /  APR 2011

Demolishing and reconstructing old buildings is commonplace today. Edifice Erection Pvt Ltd throws light on the process of redevelopment and the players involved.

Redevelopment typically involves collaborating with a developer who constructs and hands over the new building free of cost, and at the same time, makes profits by utilising the balance plot potential, where additional flats and shops can be constructed. Of course, such actions require the approval of the Municipal Corporation of Greater Mumbai (MCGM).

Durgesh Kothari, Architect, Edifice Erection Pvt Ltd comments, “With the scarcity of land in cities like Mumbai, existing constructions are dilapidating. Further, with the change in building designs and construction norms, redevelopment is becoming the need of the hour.”

The state co-operative department recently issued guidelines for societies under Section 79 (A) of the Maharashtra Co-operatives Act, 1960, thus ensuring transparency in societies seeking redevelopment. Accordingly, a redevelopment scheme must be approved by the general body comprising the co-operatives commissioner and CIDCO chairman, pursuant to a deep study of complaints, only if three-fourths of the society members are present. Also, according to an important feature in the guidelines, the special general body can approve a bid only in the presence of the registrar, and the entire proceedings must be video-recorded.

The agreement must be signed on a carpet-area basis, and once accepted, cannot be revised. The bidder must give a bank guarantee of 20 per cent of the total project cost and cannot leave the project incomplete. Most importantly, if for some reason, he is unable to complete it, he cannot sell the agreement to another developer. Otherwise, he must complete the project within two or three years. “Another player is the project management consultant who acts as the communicator between housing society members and developers,” says Utkarsh Jani, Project Management Consultant, Edifice Erection Pvt Ltd.

Burdened with bitterness and constant complaints of high-handedness and corruption against management committees, the government issued these guidelines in the interest of both society members and developers.