Redevelopment of Residential Buildings

8/13/2019 Redevelopment of Residential Buildings

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REDEVELOPMENT OFRESIDENTIAL BUILDINGS


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PROJECT TRAINING

WITHDhargalkar Technoesis Private Ltd.,

D-104, Radha Govind,

Siddharth Nagar,

Borivali(East)

Site Address:

Flower Bloom Society,

Veera Desai Road,

Andheri(East)


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Dhargalkar Technoesis Private

Ltd.Dhargalkar Technoesis I) Pvt. Ltd.isan organization having extensive

experience in the domain of

construction projects. With a track

record of handling large

construction projects for ourreputed clients in India and abroad

for the past sixteen years


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INTRODUCTION Redevelopment is a process by which local government works in

partnership with private development to enhance the social,

economic, physical and environmental vitality of a city within

specified project areas.

Redevelopment has a direct effect on the economic future ofCountry because it promotes renovation and sponsors

improvements that are focused on the growth of the

community.

The maintenance and improvement of the project area and thepositive effect they have on the rest of the community is a major

goal of Redevelopment.


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REPAIRS AND REDEVELOPMENT:

DIFFERNECESREPAIRS

FUNDS ARE TO BE RAISED FROM THESOCIETY

THE STRUCTURE AFTER REPAIR LASTFOR 5 YEARS REPAIR DO NOT SOLVE THE PROBLEM

OF MORE HOUSING REQUIREMENT INTHE CITY LIKE MUMBAI

REPAIR CAN IMPROVE THETEMPORARY CONDITION OFBUILDINGS

REDEVELOPMENT

FUNDS ARE BEING GIVEN BY THEBUILDERS

THE STRUCTURE AFTERREDEVELOPMENT LAST FOR 20 25YEARS

REVEVELOPMENT PROVIDE MOREHOUSING REQUIREMENT TO THECITY LIKE MUMBAI

REDEVELOPMENT INCREASES THESTANDARD OF PEOPLE ANDIMPROVE THE INFRASTRUCTURE OFBUILDINGS.


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LITERATURE REVIEW

Redevelopment refers to the process of

reconstruction of the

residential/commercial premises by

demolition of the existing structure andconstruction of a new structure.

This is done by utilizing the potential of the

land by exploiting additional TDR, FSI asspecified under the Development Control

Regulations of Municipal Corporation of

Greater Mumbai (MCGM).


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WHY REDEVELOPMENT IS

REQUIREDFor Existing Owners: Though they are in direct need of extensive

repairs, societies are starved of necessary

funds required to carry them out.

On one hand, they do not have the resources

and expertise to handle the repairs on theirown and on the other, the families of the

members have expanded and they need larger

space to accommodate themselves.


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WHY REDEVELOPMENT IS

REQUIREDFor Builders/Developers: Builders/Developers opting for purchasing

land and developing the same, incur huge

stamp duty cost on transfer of land.

Instead redevelopment of old building

reduces stamp duty to a significant extent.

Entering into such development agreement

with the society authorizes the developer to

develop the land.


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OBJECTIVE OF PROJECT

Transform the fractured development in to

cohesive urban unit.

Provide modern accommodation and social

services which raise living standard of the people. Provide an environment which permits the

residents to live fuller and richer lives free of

physical and social stress.

To facilitate development and proper maintenance

of infrastructure facilities such as sewerage /

storm water drainage /DP Roads which cannot be

developed because of the present haphazard

Development


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S OPE OF WORK FEASIBILITY REPORT. LAUNCH OF TENDER. BUILDER SELECTION. PLANNING OF NEW BUILDING. DEMOLISHING OF THE EXISTING STRUCTURE. EXCAVATION. PLINTH LEVEL FOUNDATION. NEW BUILDING CONSTRUCTION. POSSESION TO EXISTING MEMBERS.


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Role Of PMC

The builder approaches the owner of the

land, enters into an agreement with the owner

for permission to develop the land on the

owners behalf.

The builder constructs the buildings at his

cost, retains some flats for himself to be

sold in the open market, gives a few flats tothe landowner and also pays him some

monetary consideration.


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Later, these flats are sold by the developer in

the open market and from such sale, he makes

a profit.

Later, when the building is actually conveyed

to a co-operative society or a company, the

landowner and builder become party to the

conveyance deed on which the stamp duty ispayable and the same is also registered


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CHALLENGES Inability to assemble all members of the

society at a single point of time, as some of

the members may not be available. Some flats

may be mortgaged to a bank or a financial

institution

Some of the members may be interested in

purchase of new flats at a discounted rate in

the new building.

Anxiety in the minds of the members about

possible delay in completion of the project.


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The old documents of the members may not be

traceable.

The tax issues regarding redevelopment arenot clear to the society.

Very high prices are expected on sale of old

flats.

Corpus amount takes a long time to be fixed by

the society.


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CONCLUSION

There are constraints on the availability of open land

within the city limits with fast growing demand for

houses and shortage of housing stock.

There are thousands of ageing buildings which are

dilapidated and have reached a stage where it is not

possible to carry out structural repairs and

rehabilitation.

The problem of old and dilapidated buildings in the city

of Mumbai grows more acute with each passing year and

building becomes dangerous and unfit for habitation.

The only solution is to put them down totally and to

reconstruct them.

Redevelopment of Residential Buildings

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