Redevelopment of a housing society can be a challenging yet rewarding process. Understanding the stages of redevelopment and the role of each stakeholder can help housing societies make informed decisions and minimize risks.
The first step in redevelopment is conducting a detailed assessment of the current property’s condition. This helps in determining whether redevelopment is the best option. Often, housing societies face issues such as inadequate maintenance, outdated infrastructure, or lack of amenities that prompt the decision to redevelop.
Once the decision is made, engaging with experienced developers and consultants is crucial. This ensures that the redevelopment project complies with local regulations, including zoning laws and the RERA (Real Estate Regulatory Authority) guidelines.
The next stage involves negotiations with residents, as securing their consent is necessary. An agreement must be drafted that outlines the compensation or relocation plan, new apartment sizes, and timelines for the project. Clear communication with the residents can prevent disputes and keep the project moving forward smoothly.
During the construction phase, the society must ensure regular monitoring of the developer’s work. Ensuring compliance with safety standards and timelines is vital to avoid delays and costly penalties.
Finally, post-redevelopment, the society must focus on managing the newly constructed property. This includes issuing updated share certificates, arranging for the new allocation of apartments, and managing the overall functioning of the society effectively.
Also Watch : Important Rera Judgements taken by MahaRERA under different circumstance-2
1. Website – https://www.dearsociety.in/
2. Instagram – https://instagram.com/dearsocietymh?igshid=NmE0MzVhZDY=
3. LinkedIn – https://www.linkedin.com/company/dear-societyin/
4. Facebook – https://www.facebook.com/dearsocietyMH?mibextid=ZbWKwL
Call
Whatsapp
Enquiry