self redevelopment for societies (1)

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BUICONS

• Self-redevelopment For Societies

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Planning For Self Redevelopment For Societies?
Know Its Procedure and Benefits

• There are various housing societies in Mumbai
  that have outlived their life and pose a risk to
  the lives of their residents. Also, there is an
  increase in demand for housing around the city.
  With an added objective of replacing the older
  ones, the state government has been promoting
  redevelopment practice of the existing buildings.
• In such a case, the society members do not
  experience any extra benefits and profits from
  the process. Moreover, there are cases where the
  building that underwent redevelopment, have been
  abandoned midway by the builders, leaving
  everyone stranded. To mitigate this problem and
  earn extra points, the practice
  of self-redevelopment for societies has been a
  lifesaver.

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What Is The Difference Between Redevelopment and
Self- Redevelopment?

• Self-redevelopment, on the other hand, is a DIY
  method where the redevelopment work is undertaken
  by the society, under the supervision of its
  members. Self-redevelopment of housing society is
  a safer and better alternative to revamp
  structures in Mumbai.
• With total control over the building project, the
  society members can experience all the benefits
  along with the extra profits of selling
  additional flats available in society. For
  self-redevelopment, only registered cooperative
  housing societies of Maharashtra are eligible to
  avail all the benefits offered under Government
  Resolution (GR).

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Step-By-Step Procedure For Self Redevelopment Of
Housing Society

• Getting approvals from the society members
• Completing the feasibility study report
• Verifying all the documents
• Hiring a team of professionals
• Acquiring approvals from the governing
  authorities
• Getting the funds for the project
• Arranging temporary stays of the society members

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