Redevelopment constitutes of demolishing existing old and or dilapidated building/s mostly being owned or governed by the societies (members or owners of units in the said building) by appointing reputed developer (builder) who can construct new building or structure. Generally the owners or members of the building get new constructed units with additional benefits in exchange of vacating and handing over the development of society/owners land. The builder utilizes the existing GDR/norms and constructs buildings which have more units/built up area .The builder uses the additional area for sale in the open market and for his scale of economies .This is advantageous for the existing members as they get new structure /areas which have greater life and monetary value. The new Building or structure is constructed using established technology and materials .The new structure tends to have greater life and better planning catering to the developing world.
The Developer shall be responsible to obtain all the necessary approvals from the Municipal Corporation of Greater Mumbai and all other statutory and government offices and departments, which will include:
General Requirements from the society (members/owners)
Demolition of the building - Once the members have shifted into their alternate accommodation, the demolition of the building will take place either of all the wings simultaneously or phase wise, depending upon the scheme of re-development. Usually about three months are given to the members from the date of execution of the development agreement before asking them to shift to the alternate accommodation. Obtaining the CC (Commencement Certificate) - The IOD approval and demolition of the building will be followed by the issue of the CC (plinth level) by the MCGM/CIDCO which shall enable the Developer to start the construction work and after the plinth lines are verified by the MCGM/CIDCO officers, the further CC is granted for the complete building. Construction of the building - The building construction work will begin in full swing as per the approved plans. Various safety factors will be considered during the construction work. The amenities will be as per the agreed terms and conditions. Obtaining the OC (Occupancy Certificate) - The last step before the construction work is declared as complete is obtaining the Occupancy Certificate enabling the developer to allot the occupancy to the old as well as the new members. Final Possession- Shifting the old members - On receipt of the Occupancy Certificate, the developer can lawfully allow the possession of the flats to the owners. The society shall accept and admit the prospective/additional flat owners of the newly constructed building/s as members of the society and treat them at par with existing members.