The Need for Redevelopment in Ahmedabad
There is huge potential for Redevelopment,
in Ahmedabad, due to the constraints on land availability with the
mismatch between demand and supply of housing stock. On the other hand, there
are thousands of ageing buildings where it may not be viable to carry out
structural repairs the only solution is to pull them down and reconstruct them.
The problem of dilapidated buildings in the city of Ahmedabad is becoming more
acute, with each passing year. Consequently, for a majority of the cities in India,
redevelopment of old buildings becomes crucial.
With the mid-income segment today becoming a
huge purchasing market, developers are moving towards redeveloping older
structures into modern luxurious buildings with facilities like sufficient
parking, open areas. In the ultimate analysis, complete and timely delivery
seems to be the most crucial factor, when it comes to redevelopment.
What is Redevelopment?
Redevelopment is the process of demolishing
existing old society building and reconstructing it by appointing a good developer
who can construct and handover new flats to the society members free of cost
with some additional benefits and make profit by utilizing balance plot
potential by constructing additional flats and shops as per approval from
concerned authority.
Benefits of redevelopment, to developers and tenants
Builders/
developers, who opt to purchase land and develop the same, incur huge stamp
duty cost, vis-a-vis transfer of the land. However, when it comes to redevelopment of
old buildings. The stamp duty is reduced by a significant extent and this
acts as a major benefit for developers.
Tenants
to get several benefits like hassle-free execution, extra carpet area, corpus
fund, upmarket amenities and hi-tech gadgets such as cctv’s, intercom / video
door phone systems, smoke detectors, fire fighting alarm systems, bore well
with rain water harvesting system, high end elevators, society office if
permissible, earthquake resistant and well planned apartments and alternate
accommodation or rent compensation. For the period during which the building is
under construction.
Download
Society Redevelopment Form : Click
Here
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