Intent to redevelop the society was decided by vote in the general body meeting held last year.

An ad hoc committee was appointed to study the process and assess the advantages and disadvantages and to try and identify the consultants required to take this process forward.

A special general body meeting was held to get a vote for and against the proposal of redevelopment of the society to assess whether a comfortable majority of the members required for in favour of the re development process. This was achieved via a zoom meeting since many of the members were not residing in Mumbai some were abroad this process from the establish that a comfortable majority were in favour of the development process.

Broadly Redevelopment of a society can be achieved by following one of the three following routes

1.    Self - redevelopment. The society takes upon itself the task of the entire redevelopment process described below.  This seems almost impossible in our case

2.   Redevelopment via a reputed builder with a Project Management Consultant ( PMC ) appointed to assist in this task.  Typically in this form of redevelopment the task of building and supervising is entrusted to a reliable and reputed builder. The builder has to obtain all the permissions & day to day supervision of the project.

The redeveloper / builder takes upon himself the task of relocating the existing tenants with providing for compensation for rent of alternate accommodation. This is followed by demolition of the existing structure and reconstruction with a modern structure which is structurally more stable and  providing modern facilities. It typically is a high-rise with more number of floors & more units - excess being sold off by the builder for profit.

In return the builder negotiates to give the existing members a larger flat area ( typically in the range of 25-35% ) larger than the existing one. A large corpus of funds is also given to the society to run the society typically to ease the burden of a higher maintenance cost for the existing members.

3.   Cluster redevelopment - Buying additional FSI via clubbing with adjacent plots or saleable FSI available in the market.

The additional FSI ( in terms of a larger reconstructed flat area ) obtained for each member is typically  highest for route 1,  followed by route 3  & least via route 2.

Route 2 is typically the most common route accepted on the redevelopment process by most of the societies.

To assess the nitty- gritty & details  of the 3 options available, the society has already appointed 2 independent architects to do a Feasibility study of the project with all the available options.

Following submission of this report, a PMC will have to be appointed. This is one of the most crucial part in the redevelopment process .

This is because we must realise that the fine details of negotiation for the benefit of the society members and further supervision of the project with regard to quality of material used, day to day progress , avoidance of unnecessary delays & stalling of the project rests with the PMC.

1. The Go ahead for the Redevelopment project has been obtained

2. The Structural survey of the society & individual flats has been completed

3. An Feasibility study of the project has been commissioned to 2 independent architects