Chinnmay
Why Self-Redevelopment ?
Chinnmay Shah 25 Dec 2020

Mumbai which is known as the City of Dream. A Place where all your dreams get fulfilled. Everyone in INDIA wants to be a part of this magnificent city, but are there enough spaces for all to stay? Can the city accommodate more? The only way to accommodate many is by having taller buildings, which is properly made under all conditions, considering internal and external factors.


As we all know, there are hardly few spaces left in this Mumbai being a Dream City and the only way for development and bridge the gap between the consumer and space would be to have taller Buildings, which should be in a proper condition. As, large numbers of the Buildings being situated in the various Co-operative housing societies, in Mumbai are in a dilapidated condition where everyone always has a fear that any slab of the building or the whole building might collapse apart from that every house does face some or other problem like water leakage from their walls during the monsoon period, bad electrical work or having various dampness in their respective houses causing various health problems to them, at the end the condition of the maximum of all the houses where people invest their life long saving to get their dream home, pinches their soul if the condition of their house, their building get worsened due to many reasons and to cure that solution every layperson suffers from lack of resources – both Financial and Technical. To overcome these problems, the only option they are left with is Redevelopment. This is only possible by availing of the additional potential offered by way of TDR, FSI, Fungible, were due to which Redevelopment of existing Building has assumed greater significance.


Hard Fact, Redevelopment of Housing Societies are usually burdened with bitterness and complaints of high handedness and corruption against the Managing Committee. Hence, to ensure transparency in the Societies seeking to undertake redevelopment projects, the state Cooperative Department has issued Societies' guidelines to follow U/s 79 (A) of the Maharashtra Cooperative Societies Act 1960.


Pursuant to a deep study of complaints by members of Housing Societies undertaking the Redevelopment, guidelines in terms of section 79 (A) were issued by a committee appointed by the Commissioner of Cooperation and Registrar of Cooperative Societies, Maharashtra State, Pune under the Chairmanship of Joint Registrar of Cooperative Societies, CIDCO. Accordingly, an important feature in the guidelines, a redevelopment scheme has to be approved by the General Body only if three-fourths of Society member is present, and 75% thereof approve the proposal for Redevelopment.


The major players in the redevelopment activities are:


1) Society or Landlord,


2) Members or Tenants


3) Developer.


As in this current COVID Pandemic, people are losing hope and trust towards the builders as builders themselves face many problems. To break the ice and give a specific society trust, faith, transparency and speedy completion of the project, the suitable option to remains is for SELF REDEVELOPMENT. The Society can itself undertake the Self Redevelopment on its own. The members themselves take their personal interest in developing the redevelopment process's interest, and the members also take the quality standards to care. When the society has Conveyance executed, Society is legally also the owner of the land, i.e., society has a title in its own name, which is a firm ground for mortgaging and raising loan for Redevelopment from the Banks and NBFCS and Financial Institution. Since the Society is the owner, TDR and Fungible FSI can always be purchased in the Society's name. An architect will have to be appointed who will get the plans sanctioned, and Contractors can take up the job of constructions of the flats and the Building as per the BMC Approved plans. The Society and its members can retain the entire FSI available in the form of TDR and Fungible. Members can benefit from larger flats and extra flat can either be sold or given on the Rent. The Society and the Members will never be at the mercy of the Builders and benefit from extra FSI in terms of Fungibility and TDR. The society and its members have to shell out money for construction, and during construction, they will have to stay outside on rent. Society can also carry out this option for Self-Redevelopment with the help of the Construction Management Consultant, who can also guide the society for Architects, sanctioning the plans, and getting approval from BMC and carrying out actual construction, monitoring the quality and time of construction? Recently, Maharashtra CM also acknowledged the scope and benefits of self-redevelopment. The current motto is to make all the suffering Mumbaikar free from Dilapidated buildings. State Govt provides permanent relief to tenants and residents of the ceased building in Mumbai city. The stakeholders from old and dilapidated ceased buildings in Mumbai island city to get phase-wise redevelopment in stipulated times. 


Hence, if the society seriously carries out Self-Redevelopment on its own will be like a water well in the desert.


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