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Redevelopment of
Cooperative Housing Society

What is Redevelopment?

If you as a resident or secretary feel that there is a need to renovate your building because it is in a very bad shape. Pipe needs replacement, the walls of the buildings are cracking up, there is a lack of cleanliness and security and your building is in dire need of major repairs. The Society does not have enough funds and there is no guarantee that there would be no more repairs for next five years after these major repairs.

Instead of repairs, think Redevelopment.


STAGES OF Redevelopment

1. Offer letter to the

2. Terms and conditions with the

3. Agreement with the

4. Sanction from MCGM in favour of the

5. Loading of TDR in the
Society’s name

6. Obtaining the IOD

7. Shifting of the members

8. Demolition of the building

9. Obtaining the CC

10. Construction of the new building

11. Obtaining the OC

12. Shifting the old members

Offer letter to the
Society: The Housing Society is required to advertize in 2 leading news papers inviting the sealed tenders from the Developers and a Redevelopment Committee is formed to shortlist atleast 3 Developers on merits and the comparative data is placed before the SPGM for final selection. The selected Developer is informed accordingly and his terms are invited in writing as an Offer letter to the Society

Terms and conditions with the
Society: The first step towards the re-development is agreeing on the basic terms and conditions between the members and the Developer. The broad terms and conditions will include extra area, corpus money, shifting charges, alternate accommodation, time of re-development, amenities in the new building, etc.

Finalizing the plans with members: After due consultation with all the members, the plan will be made to suit the requirements of the existing members and will be approved by them before applying for sanction from MCGM

Agreement with the
Society: The execution of the development agreement will be done once the above two points have been cleared by both the parties and after the draft copy of the agreement have been approved by the solicitors of both the parties. It is possible to appoint a common solicitor so as to reduce the time in execution of the document

Sanction from MCGM in favour of the
Society: After the execution of the development agreement, plans are put up for sanction from MCGM with regards to the entire layout as well as the concession plans in favour of TWO FSI (i.e. plot area + TDR purchased from open market). This step makes the Society feel safe and confident towards the Develop

Loading of TDR in favour of the
Society: On receipt of the plans from MCGM approving the loading of TDR, the Developer will purchase the TDR from the open market in the name of the Society and get the same deducted and loaded from MCGM. This step is taken with the intention of making the Society feel secure about the entire development process

Obtaining the IOD: After the TDR is loaded, the IOD is obtained from the MCGM, the
Developer then starts fulfilling all the conditions as mentioned in the IOD before obtaining the Commence Certificat

Shifting of the members: The members will feel lot more confident after the IOD is been obtained from the MCGM towards the entire development of TWO FSI. The members will now shift into their alternate accommodation as a pre-requisite before demolition of the building which is a must before obtaining the CC from MCGM

Demolition of the building: Once the members have shifted into their alternate accommodation, the demolition of the building will take place either 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: The IOD approval and demolition of the building will be followed by the issue of the CC (plinth level) by the MCGM which shall enable the
Developer to start the construction work and after the plinth lines are verified by the MCGM officers, the further CC is granted for the complete building

Construction of the building: The building construction work will began in full earnest as per the approved plans by the MCGM taking into consideration the various safety factors to be considered during the construction work. The quality and the amenities will be provided as per agreed terms and conditions

Obtaining the OC: The last step before the construction work is termed as complete is obtaining the Occupation Certificate enabling the
Developer to allot the occupation to the old as well as the new member

Shifting the old members: On receipt of the Occupancy Certificate the
Developer can lawfully allow the possession of the flats to be taken over by their owners

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