Category Archives: Redevelopment Process

Redevelopment Feasibility Report – Study

Feasibility Report on Redevelopment of Society

 

Redevelopment PMC

Architects, Consulting Structural Engineers, Redevelopment Project Management Consultants, Repairs and Rehabilitation Consultants and Registered Valuers.

Date: ———–

The Hon. Secretary/Chairman,
Model Co.-Op. Housing Society Ltd.

SUB:-     Our Report on Redevelopment of your Society Building by Utilising the plot Potential and Additional Area in lieu of TDR.

Dear Sir,

We on the onset express our sincere THANKS to all the committee members of your society building. For giving us an opportunity for providing Project Management Consultancy Services for your Society Redevelopment Works.

We have studied the various documents given to us by the committee members and have worked out the feasibility of the said redevelopment project under reference.

We are enclosing herewith our Feasibility Report for the proposed redevelopment of your society Buildings.

Kindly go through the same please feel free to call us for any clarification required from your end.

Thanking you

Yours faithfully

(A. B. C.)

Click Here to down load a sample report –>  Redevelopment Feasibility Report

REDEVELOPMENT PROCESS

Contact us on : +91 98335 45366     Email : redevelopmentpmc@gmail.com , contact@redevelopmentpmc.com

REDEVELOPMENT PROCESS 

1) Documents Required by the society :
Conveyance deed
Society Registration Certificate
General Body Resolution to go for redevelopment.
List of member with their respective carpet areas
C.T.S. plan & property card for the plot.
D.P. remarks, If the property is under TPS scheme then T.P. remarks
Copy of municipal approval plans

2) Importance of Project Management Consultant in
Redevelopment
A consultant is basically a team of Architects, Civil Engineers and Legal Advisors.

An Architect is required to prepare financial feasibility of project, Technical Analysis of offers of developers, verifications of building plans prepared by the developers, preparation of schedule of municipal process with developer.

A civil Engineer is required to cross check R.C.C. drawings of the proposed building and check onsite quality of the construction.

Legal Advisor is required to prepare development agreement and individual MOFA agreements of society members of developers and check other legal aspects of the proposal.

3) We are  in the field of Re-development
We are well equipped with team of experienced architects, civil engineers and legal Advisors.

After working for so many years in the field of building Constructions, Reconstructions, designs and municipal approvals, we are well acquainted with development rules and regulations of M.C.G.M. and hence very well know how the maximum plot potential and benefits a developer can avail from any plot. Using that knowledge we guide society through entire process of redevelopment so that the members can get the maximum benefits from the builder and at any stage of redevelopment members do not get cheated by the developer. Our team of structural Engineers keeps check on the construction work and ensures the better quality of construction from the developer.

4) How can WE help society in Process of Redevelopment
Carring out structural Audit
To ensure redevelopment Passing general body resolution for redevelopment should be passed in AGM to go for redevelopment.
At least 15% members consent is required to start the process of redevelopment at the time of final decision 75% members consent is required
Preparation of financial feasibility report.
A feasibility report shall be prepared by studying existing building plans, consumed FSI, carpet area of existing members & available TDR/ additional FSI benefits. A report will be submitted by the society stating in the maximum benefits the members can demand from the developers.
Preparation of tender to invite offers from developers.
Preparation of Tender document, “Tender” is a crucial document, which is to be designed meticulously to avoid any kind of misunderstanding/argument during the course of project.

It shall contain an agreement, various information’s to bidder, technical specifications, general conditions, and detailed specifications which makes it easier to evaluate the offers received since they are given on the same base
Preparation of comparative chart of developers.
A chart showing the comparative analysis of all the offers shall be prepared to Get the idea of the best offer received. Ranking shall be given to developers.
Finalization of developer on the basis of report given by the consultant.
On the basis of ranking , the projects carried out by the developers shall be Inspected , their market reputation shall be checked and accordingly the best developer shall be recommended to the society.
Preparation of development agreement
While preparation of development agreement between society and developer inputs shall be given in terms of technical clauses which would Safe guard the interest of the society and safety of the project .
Finalization of building plans
The plans of proposed building prepared by the developers shall be verified in respect of planning , carpet area , area calculations, legalization and authorization of the area allotted to the members.
Vacating the building after the builder obtains the necessary permission.
The care is taken that the necessary permissions are obtained and legal formalities are fulfilled to secure the project by the developer before he ask the members to vacant the premises. So that the project doesn’t stuck up after demolition of the building.
Demolition and reconstruction of building.
After demolition and during construction of building the regular inspection is carried out to check the quality and speed of the construction.
Possession and occupation of building.
During construction of building co- ordination with the developer shall be done to see that all the formalities for the occupation of the building are fulfilled and members get possession with the occupation certificate

Redevelopment of Society

Collect the details and required documents from the society  define details and list down required documents for each categories

Make a feasibility report ( Use a Redevelopment Project Management Consultant)

LOI (letter of Interest) is given to society.

Make format of the same with various options Further details are asked like Legal etc.

Once Developer is satisfied an offer is given to the society & Negotiation take place.

Architectural presentations are given and sites visit arranged.
Further procedure is as follows:

Ø Society resolution deciding redevelopment of the Society and further accepting the developer or its subsidiary Company to be the Developer.
draft resolution if available

Ø The signing of the Development agreement, the Power Of Attorney and the letter of Consent by each of the member in favour of the Developer / subsidiary company.

Ø Plans will be submitted by the developer to the members and signatures obtained on them after members ascertaining their carpet areas. Both signatories’ developer and members to sign and freezing of plans.

Ø 1st installment of Corpus/Hardship Compensation (termed ‘hardship’ to avoid capital gain tax) to be released as per offer, normally on the execution of the registered documents.

Ø Passing of plans from MCGM, paying of relevant premiums and requisite fees to obtain IOD.

Ø 1st installment for alternate accommodation and notice to vacate, where required.

Ø Signing of tri partite ownership flat agreement between. Members/society/developers and payment of Stamp Duty/Registration for additional area.

Ø Handing over of members flats to the developer for demolishing, where required.

Ø 2nd installment of Corpus / hardship compensation to be released on members vacating and handing over the possession of the flats for further demolition.

Ø Demolition of the building where required. for all above points upto this point make efficient timelines without budgeting inefficiency</ins>

Ø Obtaining Commencement Certificate after the demolition is completed.

Ø Beginning of construction.

Ø Payment of 2nd installment for Alternate Accommodation(as per offer)

Ø Completion of construction and handing over the ownership flat to members with all the amenities.

Ø Balance compensation.

Ø Admitting new members to the society.

Ø Balance compensation to the society to bring them in par with the existing members.

Redevelopment of housing society in mumbai

For Redevelopment Queries please call us on 98335 45366 or email us contact@redevelopmentpmc.com

Did you know that after the recent G.R. (Government Regulation) dated 03rd January 2009 issued by the Governemnt of Maharashtra it is now mandatory for all co-operative housing societies, whose members wish to go in for redevelopment to follow certain procedures laid down in this G.R. very stringently, failing which the entire process of redevelopment of their society can fail.

As a result of all the above factors there were many litigation’s which were littering up the actually overcrowded courts of law. All these disputes could have been avoided if the society had appointed a professionally qualified Redevelopment PMC (Project Management Consultant) to carry out a proper FEASIBILITY REPORT.

FEASIBILITY REPORT is a means of determining the existing plot potential after checking all the papers available with the society, vis-a-vis the actual area in possession of the members.

The FEASIBILITY REPORT will determine the benefits that the members of the building will get from any developer, in terms of Extra Area, Corpus, Rent & any other benefit.

Services Offered  In Scope Of work for Redevelopment of housing society in Mumbai:

INVESTIGATION- TECHNICAL FEASIBILITY & COMMERCIAL VIABILITY INCLUDING PLANNING).

  • Checking all the relevant papers and working out the technical feasibility / commercial viability of redevelopment of any society building
  • Working out alternative plans for redevelopment of the plot, taking into consideration the latest Municipal Development rules & regulations.
  • Working out the minimum & maximum benefits viable in the project.
  • Laying down the optimum benefits, which can be derived from any developer, including monetary benefit, if any?

 

Services Provided :
Redevelopment of Housing Society in Mumbai
Redevelopment PMC
Redevelopment Consulting ( Agreement and Legal )

Redevelopment Process in Mumbai

Incase you need any support for Redevelopment call us on 98335 45366 or email us on contact@redevelopmentpmc.com

REDEVELOPMENT PROCESS 
 
1) Documents Required by the society : 
Conveyance deed
Society Registration Certificate
General Body Resolution to go for redevelopment.
List of member with their respective carpet areas
C.T.S. plan & property card for the plot.
D.P. remarks, If the property is under TPS scheme then T.P. remarks
Copy of municipal approval plans
 
2) Importance of Project Management Consultant in
     Redevelopment 
A consultant is basically a team of Architects, Civil Engineers and Legal Advisors.

An Architect is required to prepare financial feasibility of project, Technical Analysis of offers of developers, verifications of building plans prepared by the developers, preparation of schedule of municipal process with developer.

A civil Engineer is required to cross check R.C.C. drawings of the proposed building and check onsite quality of the construction.

Legal Advisor is required to prepare development agreement and individual MOFA agreements of society members of developers and check other legal aspects of the proposal.

 
3) We are  in the field of Re-development 
We are well equipped with team of experienced architects, civil engineers and legal Advisors.

After working for so many years in the field of building Constructions, Reconstructions, designs and municipal approvals, we are well acquainted with development rules and regulations of M.C.G.M. and hence very well know how the maximum plot potential and benefits a developer can avail from any plot. Using that knowledge we guide society through entire process of redevelopment so that the members can get the maximum benefits from the builder and at any stage of redevelopment members do not get cheated by the developer. Our team of structural Engineers keeps check on the construction work and ensures the better quality of construction from the developer.

4) How can WE help society in Process of Redevelopment 
Carring out structural Audit
To ensure redevelopment Passing general body resolution for redevelopment should be passed in AGM to go for redevelopment.
At least 15% members consent is required to start the process of redevelopment at the time of final decision 75% members consent is required
Preparation of financial feasibility report.
A feasibility report shall be prepared by studying existing building plans, consumed FSI, carpet area of existing members & available TDR/ additional FSI benefits. A report will be submitted by the society stating in the maximum benefits the members can demand from the developers.
Preparation of tender to invite offers from developers.
Preparation of Tender document, “Tender” is a crucial document, which is to be designed meticulously to avoid any kind of misunderstanding/argument during the course of project.

It shall contain an agreement, various information’s to bidder, technical specifications, general conditions, and detailed specifications which makes it easier to evaluate the offers received since they are given on the same base
Preparation of comparative chart of developers.
A chart showing the comparative analysis of all the offers shall be prepared to Get the idea of the best offer received. Ranking shall be given to developers.
Finalization of developer on the basis of report given by the consultant.
On the basis of ranking , the projects carried out by the developers shall be Inspected , their market reputation shall be checked and accordingly the best developer shall be recommended to the society.
Preparation of development agreement
While preparation of development agreement between society and developer inputs shall be given in terms of technical clauses which would Safe guard the interest of the society and safety of the project .
Finalization of building plans
The plans of proposed building prepared by the developers shall be verified in respect of planning , carpet area , area calculations, legalization and authorization of the area allotted to the members.
Vacating the building after the builder obtains the necessary permission.
The care is taken that the necessary permissions are obtained and legal formalities are fulfilled to secure the project by the developer before he ask the members to vacant the premises. So that the project doesn’t stuck up after demolition of the building.
Demolition and reconstruction of building.
After demolition and during construction of building the regular inspection is carried out to check the quality and speed of the construction.
Possession and occupation of building.
During construction of building co- ordination with the developer shall be done to see that all the formalities for the occupation of the building are fulfilled and members get possession with the occupation certificate