CONCEPT OF SELF REDEVELOPMENT
 
Self Redevelopment means developing our own property without involving Developer. Getting all the work of approvals, permissions through expert liasoning architects and agencies. Raising fund for Project through different options available.
 
 
SUCCESSFUL VENTURES
 
The formula for this kind of redevelopment was always the choice, implemented by employees and their employers. As it is always easy to maintain transparency and coordination in carrying out such projects by the Society Members or the Employees working together. Since living together for certain years the interaction is regular as all those involved are known and familiar people. Best examples of such colonies would be the Bank colonies, Army, Naval or Postal Department colonies and also the community based colonies.
 
 
REASONS TO GO FOR SELF REDEVELOPMENT
 
Lack of transparency in projects.y unregulated sectors in spite of many laws.
No proper information about the builder.
Developer do not provide with all the agreed amenities.
Non preparation of Feasibility Report.
Transparency not observed in the Tendering process.
Appointment of Contractors in a haphazard manner.
Proper procedure not followed in the selection of Tender.
Disparities in the Development Agreement
Fraud, cheating by builders.
Project does not complete in time and in desired quality
 
To achieve value for your money with your hard earned investments and future plans. To accomplish your dream house, without much hassles and discomfort of any kind in achieving it. You have control on the process and procedure, giving you the liberty to alter and edit when ever or wherever possible.
 
 
 
ADVANTATGES OF SELF REDEVELOPMENT
 
Developer - members themselves
Complete benefit - to the members
Extra area free of cost
Corpus : it can be more but not less than offered by builder
Individual difficulties : can be sorted out within members
Any third party interest: not possible
Supervision : very good professionals and good quality
Income tax on profit : nil being concept of mutuality
Maintenance cost to be covered: reserve certain area to the society to be given on rental basis and earn rent to cover up the cost of maintenance.
Quality of construction : will be best as the material, will be selected by the members
Litigation : possibility is very less as the entire project will be developed by the society itself.
Plan to suit the members: plan will be prepared - considering the needs of the present members and by the society appointed architect.
Increase in sale price : benefit will be available to the Members/ society.
   
   
HOW TO GO FOR SELF REDEVELOPMENT
   
As per Byelaw No 77 of the New Model Byelaws, Structural Survey of the Building to be carried out by the Managing Committee
Appointing capable Project management agency who has team of technical and legal experts.
The M C will ask the Project Manager (P M ) to survey the Plot/Area/F.S.I – T.D.R / B.M.C – MHADA rules applicable. Find out the Technical and Financial details, including viability, comparison of repairs vis-a-vas Reconstruction.
Structural Survey Report & Feasibility Report: to be circulated to all members of the society, asking for written opinion.
To deal with the clearance of all Legal / Property Matters and get necessary guidelines from concerned departments / associations / B M C / MHADA, etc
Make jottings of the requirements/ choices / demands of the society members
Project Manager to prepare guidelines for maximum benefit of society matter ( R.C.C guidelines / Structural Guidelines / Internal –External amenities / Legal term requirements / other details.
According to guidelines, through local new Paper Advertisement invite offer from different contractors.
Prepare comparison statement/ Chart of Contractor’s Market Position / Compilation of Projects / Financial Standing / Management Standing / Members Convenience / Financial Offers / Amenities & other details.
Selection of Best contractor.
Preparation of detailed agreement between contractor and society as per Project Managers guidelines.
Project Manager to prepare all plans to be submitted to B M C / MHADA / other authorities.
After society approval, Plan / Proposal moves to B M C for I.O.D.
Individual detail agreement between society & members regarding payment of consideration.
Arrangements of Fund for Project Completion.
Monitoring Construction work.
Occupation Certificate, after which members should relocate to New Flats
Completion Certificate to be procured