In the below mentioned Process & FAQs wherever the word “Developer” is used it means “Builder” in a Developer-based redevelopment & “Society/ Appointed Professionals by Society” in a self-redevelopment
- To acquire all the documents of the society. Consent from all the members for Re-development / Self-redevelopment.
- Appointment of Shilp Associates as Project Management Consultant (PMC).
- Project Redevelopment evaluation/feasibility report from PMC.
- Presentation of project report to society members from PMC.
- Draft of tender document from PMC to Society for inviting bids from prospective developers.
- Publishing advertisement in newspaper to invite interested developers.
- Receiving offers and profiles/qualifications/financial Statement from the interested bidders.
- After opening the tenders, PMC makes the comparative statement.
- Negotiations with the shortlisted bidders and finalization of a developer / Bidder for the further process of redevelopment.
- Drafting the Development Agreement in consultation with appointed Solicitor and PMC examines Submission drawings prepared by the Developer.
- Checking of approvals for the proposed project after payment of premiums and charges to the respective authority.
- Members to vacate the premises on checking the compliances.
- Commencement of construction of the project as per project schedule submitted by the Developer & timely inspection of the premises under construction along with progress report by PMC.
- Handover of premises to society on completion of construction and receipt of Occupation Certificate.
The period of 79(A) process which will take at least 06 Months.
The period of legalities & documentation with concerned authority which will take at least 09 Months.
The period of construction from the date of Commencement Certificate depends on the quantum of the project. The average time taken to complete a small to a mid-size (Plot Size Approx. 500.00 to 4000.00 sq mtr) project is 36 months.
The area of entitlement depends on the respective DCPR 2034 policy that the project fits under. The final offer from the developer is subject to viability of the project.
The developer will pay the rent of temporary accommodation, shifting, brokerage charges, Corpus (hardship allowance). (It is negotiable and only for redevelopment projects)
It depends on the planning done by the developer. However, society may convey the desired location of the flats to the developer and request them to do their best to meet society’s demands.
The existing members can buy extra areas after discussing the same with the developer. The cost & discounted rate of the same varies in all projects respective to the market trends in the locality of the project & developer. (subject to viability of the project)
It is very difficult for the architect to design different units for all members of the society due to planning constraints and basic structural grids. However, society may convey their requirements to the developer and request them to do their best to meet society’s demands.
The Society may appoint professionals such as PMC, Financial Consultant and Solicitor. The other consultants such as Design Architects, Liasioner, MEP Consultant, Structural Engineer Etc. are appointed by developer. However, society may make suggestions to the developer.
As your Society’s PMC Shilp Associates will do timely strict inspections to ensure good quality work and that no false means are practised by the developer.
The developer and their consultants will be responsible for the sale of flats.