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Why Redevelopment?

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What to expect from the Redevelopment of our Society?

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What Amenities can be expected in the new construction?

  • Excellent Elevation

  • Modern & Decorative Entrance Lobby

  • High Speed Lifts with ARD

  • Enclosed Fire Staircases

  • Society Office with furniture

  • Fully equipped Gym

  • Roof top Garden

  • Meter Room & Post Box Room

  • Podium Top Amenities

  • Visitors Parking Area

  • Provision of Bore-well

  • Rain water Harvesting Tank

  • Good quality / reputed brand for Electrical & Plumbing fittings & fixtures

  • Mahanagar Gas Pipeline connection

  • Invisible Grills for the French windows

  • CCTV & Video Door Phone

  • Fire Fighting Systems

  • Modernised Plumbing & Electrification

  • Garbage Disposal System

  • EV Charging arrangement

  • Green Areas & jogging tracks

  • Minium 2 day requirement water storage tanks + Fire Tank

  • Modular Kitchen

  • Standalone, independent car parking spaces to be provided to each member

  • Security Room & Servants toilet

What is the difference between MOFA Carpet Area & RERA Carpet Area?

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Redevelopment Process Stages

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Tentative timeline for redevelopment process

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Important Meeting to be conducted

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Basic Developers Responsibilities to be covered in RFQ

  • Offer for incremental area, corpus, rent, brokerage, & shifting charges

  • All project cost from date of appointment to hand over to be borne by developer

  • Developer shall load complete FSI before construction & in name of Society

  • Stamp Duty & Registration Charges to be responsibility of Developer 

  • Cost of Society PMC & Advocate to be borne by Developer

  • PTC/PAP/Inclusive housing/MHADA component shall not be constructed on the said property

  • Existing member to be rehoused first post OC

  • Liquidated damages: Penalties + 10% increase in the last rent amount + Step in clause

  • Security: Bank Guarantee, Escrow of funds, Security Deposit in favor of the Society

  • Shall follow MahaRERA norms + register with MahaRERA

  • No loan on existing member area or on the land + no transfer of rights or sublet

  • The Title of land & possession of the said Property shall always remain with the Society notwithstanding any conditions mentioned anywhere else.

  • No clinics, coaching classes, hotels, hospitals, nursing homes in the new building

  • DA, PAAA & PA to be registered & stamp duty registration to be bone by developer

  • Society shall retain full control over their internal management & day-to-day affairs post-redevelopment

  • Amenities of the existing member & the sale shall be the same

  • The Developer shall declare well in advance the specific DCR 2034 scheme under which the redevelopment proposal will be submitted.

  • In the event of any upward revision in the permissible FSI during the project, the Society shall be entitled to a proportionate share in such additional FSI

  • The Transit accommodation rent should also not be stopped under any circumstances till the Developer handover the new flats/units to existing members & on receipt of full OC.

  • Work must be carried out as per IS, NBC, & MGCM norms

  • Bidder shall provide full building Occupation Certificate to Society including but not limited to, operational high-speed elevators, firefighting system, water, electricity, drainage, facility management team & all amenities as per Development Agreement.

  • Offer for Additional Purchase of Area & Parking

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Above list is not exhaustive & several other clauses to be discussed, detailed & mutually agreed at time of DA

Redevelopment Safeguards

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Quality of Works Risk & Mitigation Strategy

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Time Delay Risk & Mitigation Strategy

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Why M. K. Rao & Associates ?

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