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Padmavati Developers – CHS Redevelopment Specialists
We are open to discussions for redevelopment of Projects, in Western and Eastern Suburbs of Mumbai, in Mumbai to ensure that the Society residents are accommodated in the new premises with all the minimum required amenities. We are one kind of developer who specialises in redevelopment of challenging projects due to constraints
Society Centric Approach
We deeply understand the needs of the society member, and we work closely with them to understand and fulfil the requirement as redevelopment is purely based on trust and deliverables.
Sustainable Residential Projects
We have mastered the Art of Designing and executing the projects with precision and best quality in the desired timelines. Superlative Planning and Scheduling Our experienced Design Architects, Liaoning Architects and RCC consultants designs and created the sustainable designs in conformation with the local municipal regulations. The Project planning is the most crucial aspect and specifications are fixed during the design and planning ensuring the better and timely completion of the project.
Quality Monitoring and supervision
We have team of dedicated agencies working with us for more than an decade and relentlessly striving to achieve the desired quality through continuous monitoring and supervision. Upgrade to new world and creating asset for next generation. We plan and provide amenities for all the age group ie senior citizen, Couples, young generations and toddlers keeping in mind the space required outside their abode to rejuvenate.
People Management
We have team of experienced on site staff, and ensure that the each site under progress has ample and trained main power and they are backed by the team of quality vendors and suppliers and all the equipment and tools required to execute their job.
Understanding the Redevelopment & Basic Questions & Basic Questions
Can our Society opt for redevelopment?
Any Co – operative housing society which is more than 30 year old construction can opt for redevelopment process, any society less than 30 years of construction than technical reports are required that the structure has outlived its life and is beyond repairs.
For any society redevelopment, society should not have utilised the full potential of the plot as per current Development control rules (DC Rules) can initiate the redevelopment process.
Documents to be gathered for redevelopment process to commence
- Registered Deed of Conveyance of the property
- Property Card in the MCGM records in the name of the society
- Occupation certificate with Plans or Commencement certificate and IOD plans
- City Survey Plan (CTS Plan)
- Development Plan Remark
- Carpet area of Existing Members
How Society and it’s member shall benefit from redevelopment?
- Newly designed and constructed Highrise premises.
- New premised shall have Elevators which is not there generally in the existing premises
- RCC framed structure with seismic zone confirmations.
- Amenities like Elegant entrance lobby, Covered and Approved parking, Dedicated Society office, Security Cabin, Cardio Gym and Terrace Garden. (These are minimum we offer and is subject to actual site and layout)
- Green areas and dedicated kids and toddler paly area.
- Vastu Friendly layout and designs.
How does redevelopment process benefits members financially?
- Free additional area over existing are
- Corpus or hardship compensation.
- Additional area purchase at Concessional rates than market rate.
- Reimbursement of rent for the displacement period.
- Brokerage charges for acquiring rented premises.
- Shifting and relocation charges
Does society or member has to bear any financial cost?
The Developer generally pays for the approval and statutory cost like Stamp Duty and Registration of Development Agreement and Power of Attorney, Permanent Alternate Accommodation agreement. The member opting of additional area pays the stamp duty, registration and GST on the additional area purchase value.
Why My society’s offer is different from other society in the same locality?
The offers are based on the various factors that actually decides the parameters like Abutting road width, FSI utilised, FSI Potential on the building, Clubbing of scemes under DCPR shall decide the offer to society and hence there is difference in offer to each society.
Is Conveyance of the land transferred to the Developer in the redevelopment process?
No, Society shall always remain the land owner and by virtue of Development agreement Developer is handed over the possession for reconstruction and upon completion the possession is transferred back to the society. At No point of time the developer is owner of the land.
How does the development is secured for Members and new flat buyers?
The Central Government of India introduced and passed The Real Estate Regulation and Development Act of 2016 with primary air to regulate the real estate domain and provide protection to prospective home buyers and safeguard their interest and giving them easy access to resolve their grievances. MahaRera is in force.
Any Developer intending to sale the project under construction and advertise has to get the project registered under MahaRera. MahaRera registration ensures that the funds for the projects are utilised for the same project.
How the redevelopment process works and what ate the major steps.
- Requisition signed by at least 30% members to call meeting for redevelopment process.
- A Special General Body Meeting is to be called within stipulated time and approve with majority the redevelopment.
- Call for Quotation, selection and appointment of Project Management consultant (PMC) and legal expert (Lawyer).
- Get the tender document prepared with the help of PMC and decide how to search Developer either by Private Tender or Public Tender.
- Upon Tender floating, various developers can submit their bids in the prescribed format.
- PMC and Managing committee along with redevelopment committee can compare the bids, and with due democratic process selects a developer based on the various criteria like Experience, Financial Stability, timely delivery and quality, selects the developer.
- The Appointed developer works upon on the Development Agreement and Plans and same is approved and executed.
- Upon the DA registration the developer submits plans to local authority to obtain the necessary permissions.
- Upon Obtaining Permissions, issues vacating notice to the members to vacate the premises and share the plot for redevelopment.
- Completes the project, obtains Occupation certificate and hands over new premises to existing members first and than to the new members.
- Society adds the new flat buyers as the members of the society.
How Society and members can ensure smooth redevelopment process?
Transparency is one of the most important factors to be considered during redevelopment. All the necessary terms and conditions must be listed and documented beforehand. No conditions should be accepted orally. Illegal activities are absolutely not permitted during the process of redevelopment.
How can an existing member purchase the additional area?
During the process of appointment of developer, the society can discuss and arrive at the modalities to enable members to buy the additional area from the developer.