Redevelopment

What is Redevelopment ?

Redevelopment refers to the process of reconstruction of the residential / commercial premises by demolition of the existing structure and construction of new structure. With open space almost non-existent in Mumbai, the subject of redevelopment has now assumed great significance because majority of the buildings owned by co-operative societies or by owners are quite old and/or in neglected state.

Why Redevelopment ?

Redevelopment provides modern day space planning with vertical transport (lifts) and earthquake resistant durable structures with adequate in-house parking facility and recreation facilities for leisure and community gatherings. It also provides ownership of old tenanted property to its occupiers and creates exponential value after Redevelopment as compared to its earlier status.

Frequently Asked Questions

Is there any cost to redevelopment ?

Existing members / tenants do-not have to bear any extra costs for redevelopment.

What are the advantages of redevelopment ?

  • Earthquake Resistant Structure
  • Modern amenities
  • Well planned infrastructure
  • Decorative entrance lobby
  • Top end amenities inside flats
  • Modern elevators
  • High end security system
  • Parking space
  • Spacious passages and staircase

What are the list of document required for redevelopment ?

  • Conveyance Deed / Lease Deed / Sale Deed
  • Original Building Plan
  • Society Registration Certificate (in case of Co-operative Housing Societies)
  • Documents / Papers / Deeds / Agreements etc. whatsoever in nature related to the plot
  • City Survey Plan
  • Property Card
  • D. P. Remark
  • Index II
  • N. A. Order
  • Extract of 6/12, 7/12

Will the maintenance shoot up after redevelopment ?

We provide a Lifetime Maintenance Free Scheme to existing members/tenants, which helps smooth functioning after redevelopment.

What if few members oppose redevelopment ?

If redevelopment decision is arrived at by at least 70% of occupants or 70% members through General Body resolutions in a Society; then the concerned authorities will enforce the decision on rest of the occupants/members.