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Society redevelopment involves demolishing an old or dilapidated residential building or society and constructing a new one. The process typically involves the appointment of a developer to oversee the demolition and construction. Key steps include:

Formation of a Redevelopment Committee

Residents elect a committee to represent their interests and negotiate with potential developers.

Developer Agreement

The society enters into an agreement with the developer, specifying the terms, timeline, and compensation (e.g., new flats, monetary compensation).

Demolition and Construction

The old building is demolished after receiving necessary approvals, and new flats are constructed as per the agreement.

Handover of New Flats

Once construction is completed, the developer hands over the new flats to the residents, who can either occupy them or choose to sell.

Redevelopment revitalizes aging societies, offering better infrastructure and modern living conditions to residents, while developers benefit from the sale of new units.

Agreement with Developer

The society signs a redevelopment agreement with a developer, which outlines the terms of the demolition, construction of new flats, and the rights of the existing residents. Typically, the existing residents receive new flats after redevelopment.

Clearance and Demolition

The old structure is demolished after obtaining the necessary approvals and clearances from local authorities.

Construction of New Flats

The developer constructs new, modern flats with upgraded amenities and infrastructure. The developer may also offer residents larger flats, better facilities, or compensation depending on the agreement.

Handing Over the Flats

Once the construction is complete, the developer hands over the new flats to the residents, who may then sell or occupy them.

Society redevelopment is an attractive option for aging societies as it allows them to upgrade their living conditions and gain access to better infrastructure while the developer benefits from the sale of the newly constructed units.

Society Redevelopment