The process of redevelopment with us consists of 7 simple steps-
Step 1: Society Evaluation
A General Body Meeting is called upon to obtain consent from all the members. This committee then approaches us for evaluation of the proposal and an appropriate offer.
Step 2: Feasibility Report
We then study the documentation and prepare a feasibility report, which states the shortcomings of the existing documentation if any and the method to overcome them. We verify whether the Society/Apartment has a clear and marketable title and the ownership is free of any litigation. The Society/Apartment can appoint a legal consultant if required during this process.
Step 3: Terms and Conditions
Once the feasibility report is prepared, the discussions begin with the committee. Based on this, the two parties arrive at a consensus on the terms and conditions to be set for the process. We then submit the final offer to the Society/Apartment.
Step 4: Design
On receiving verbal confirmation/Letter of Intent from the Society/Apartment, we initiate the process of architectural design of the proposed flats. For this process, certain documents are required to be submitted by the Society/Apartment. We would accordingly inform the Society/Apartment at the relevant time.
Step 5: Presentation and Selection
The Society/Apartment is presented with options/alternatives of plans. The plans are prepared taking into consideration the expectations and suggestions of existing members. Once the layout of the building and the flats to be allotted therein are finalized, we present the Society/Apartment with the draft of the redevelopment agreement. The Society/Apartment consults their legal counsel on the draft and after making the necessary changes if any, the draft is finalized and made ready to be signed.
Step 6: Agreement and Procuring municipal sanction
When the agreement is signed and registered, the Architect proceeds with the process of procuring sanction from the municipal corporation for the finalized layout. As a parallel process we assist the Society/Apartment members/residents for sourcing rental accommodation for the period of the construction. Alternatively in certain cases the agreement is signed after the initial plans are approved by the municipal corporation.
Step 7: Vacation of premises and physical possession of the property
We generally allow a tenure of 30 – 45 days to the Society/Apartment for vacating the property, so that we can commence with the process of demolition. Subsequent to that as tradition follows, a ‘Bhoomipujan’ is organized on an auspicious day prior to commencement of work.