Leadership
Self Redevelopment

Self Redevelopment, The oldest way of doing redevelopment. This style of redevelopment although the oldest and most beneficial is considered as the most difficult one. Unlike other approaches, this approach depends on the existence of a leader amongst the society members who is ready to take the torch and pave the path while the rest of them follow in unison. But leadership in an unknown territory, and the uncertainty in the norms make the journey difficult, tiring and unpredictable.

For Self Redevelopment, the housing society is required to

  • Appoint Project Management Consultant
  • Arrange for funds required for the project
  • Appoint Architects, Contractors, Consultants, Legal Advisors,
  • Chartered Accountants, Procurement Managers, etc.
  • Provide the relevant scope of work to each Agency/ Expert
  • Manage the review, validation, communication, co-ordination of all the parties involved to ensure the Project delivers as estimated and as per the standards
  • Manage the documentation and approvals from different Government Authorities
  • Manage the conflicts between different society members and their expectations
  • Manage the sale of flats to recover the loans

For Self Redevelopment, the housing society is required to

  • Appoint Project Management Consultant
  • Arrange for funds required for the project
  • Appoint Architects, Contractors, Consultants, Legal Advisors,
  • Chartered Accountants, Procurement Managers, etc.
  • Provide the relevant scope of work to each Agency/ Expert
  • Manage the review, validation, communication, co-ordination of all the parties involved to ensure the Project delivers as estimated and as per the standards
  • Manage the documentation and approvals from different Government Authorities
  • Manage the conflicts between different society members and their expectationsManage the sale of flats to recover the loans
Benefits
Advantage of Redevelopment

Advantages

Higher extra space and corpus compared to other approaches

Rent allotment managed as per convenience

Authority in the hands of the society for plans designs and also setting development standards

All the documentation and plans in society’s name

Disadvantages

Time, competence and inclination within the Society members

Getting Consensus amongst members at various stages

Funds to be made available for the entire project

Managing documentation through Govt. authorities

Ability to sell the saleable flats for recovering the project cost

Managing multiple experts at various intervals of time and the required coordination within them

Keeping a tab of the project development as per Govt. norms and better standards

Managing the invoicing, taxation and cost accounting

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