Society members had been investing on their own Property for more than 25 years, be means on Loan initially and later on as Society Charges. During the course of time these Buildings do age out and hence it requires either Building repairs and maintenance or redevelopment. Self redevelopment will guarantee every society members maximum benefits possible.
Most Societies in Mumbai , today, can avail maximum benefit of the same by the help of redevelopment. While taking maximum benefits, the most expensive commodity like Timely delivery, your own property handing over to non-reliable person / company, quality of work, etc. needs to be taken utmost care of. So the best way is to go for Self-Redevelopment in Mumbai.
Following are the points for Developer redevelopment V/S Self-Redevelopment in Mumbai.
|Developer Oriented Redevelopment||Self-Redevelopment|
|Knowledge & Technical Expertise||Yes||Yes|
|Skill of Dealing with MCGM and Other Authorities||Yes||Yes|
|Design as per Society Member’s Requirements||never 100%||Yes|
|Final Authority||Developer’s Own Decision||Society’s Team|
|Time taken for Decision||Relatively Short||Relatively long, as it’s team to understand the situation and arrive to decision|
|Understanding of Quality and Cost of Resources & Amenities||Decided by developer||Decided by society members|
|Additional Carpet Area||On developer's name||On society's name|
|Corpus Fund Generation||Low||High|
|Project Commencement & Completion||Decided by developer||Decided by society members|
|Investment Capability & Fund Management||Depends on developer to developer||Bank loan arranged and managed by society members|
|Rental & Mobilization||Decided by developer||Decided by society members|
|Managing IOD, CC, TDR / FSI||Depends on developer to developer||Taken on the name of the society|