Introduction
FAQS (Frequently ask questions) for Housing Society redevelopment is a major milestone in the life of any housing society. While it offers benefits such as additional carpet area, modern amenities, and enhanced safety, it also raises several practical, legal, and financial questions in the minds of members. Many societies hesitate to take the first step due to lack of clarity, misinformation, or fear of disputes.
To address these concerns, below are the Frequently Asked Questions (FAQs) that housing societies commonly ask before proceeding with redevelopment. Clear answers to these questions help societies make informed, confident, and collective decisions. FAQS are more important for the acknowledgement the process of Redevelopment.
1. Is our building eligible for redevelopment?
This is most important FAQ . Most buildings older than 30 years, or those declared structurally weak, are eligible for redevelopment. However, eligibility also depends on land title clarity, plot size, zoning regulations, and Development Control Rules. A professional technical and legal feasibility study is essential to confirm redevelopment viability.
2. How much additional carpet area will members get?
The Answer of the Second FAQ Additional carpet area varies based on permissible FSI, plot size, road width, and government policies. Typically, societies receive 50% to 70% additional RERA carpet area, but the exact figure must be clearly defined in writing and included in the Development Agreement to avoid disputes.
3. Will members have to pay any money for redevelopment?
In most self-redevelopment or developer-led redevelopment projects, members are not required to pay for construction. However, certain optional upgrades or additional area beyond the agreed entitlement may involve costs. All financial terms should be transparently disclosed upfront.
4. Where will members stay during construction and who pays the rent?
Members are required to vacate the building during construction. The developer is responsible for providing monthly rent compensation and deposit for alternate accommodation until possession of the new flats is handed over. Rent amount, escalation, and duration must be contractually protected.
5. How long does the redevelopment process take?
On average, redevelopment takes 36 to 48 months, including approvals and construction. Delays may occur due to regulatory approvals, market conditions, or unforeseen issues. Therefore, agreements must include penalty clauses for delayed possession to protect members.
6. What legal approvals are required for redevelopment?
Redevelopment requires multiple approvals, including housing society resolutions, municipal sanctions, RERA registration, fire approvals, environmental clearance (if applicable), and occupancy certificates. Non-compliance with statutory approvals can lead to serious legal and financial consequences.
7. How is the developer selected?
A developer should be selected through a transparent tendering and bidding process. Factors such as financial capability, past redevelopment experience, legal history, project timelines, and offer terms must be carefully evaluated. Societies increasingly engage PMCs to manage this critical process.
8. What happens if the developer delays or abandons the project?
This is one of the biggest concerns for societies. To safeguard members, agreements must include Performance Bank Guarantees, Escrow Accounts, and termination clauses. These legal and financial safeguards ensure accountability and allow the society to take corrective action if required.
9. What rights do members have during redevelopment?
Members of housing society retain full ownership rights over their flats and land share. Their rights to carpet area, amenities, compensation, and possession timelines are legally enforceable through agreements. RERA further empowers members by mandating transparency and grievance redressal mechanisms.
10. Is appointing a PMC necessary for redevelopment?
While not mandatory, appointing a Project Management Consultant (PMC) for housing society is highly recommended. A PMC acts as an independent expert representing the housing society, ensuring technical quality, legal compliance, financial safety, and timely execution. PMC involvement significantly reduces risks and internal conflicts.
Conclusion
Redevelopment is a complex but rewarding process when approached with proper planning, legal awareness, and professional guidance to housing societies. Most concerns raised by housing societies can be effectively addressed through transparent communication, strong agreements, and expert supervision.
By understanding these frequently asked questions (FAQS), societies can move forward with sklyline constro PMC and contact with us with confidence, protect members’ interests, and ensure that redevelopment results in a safer.