All You Want To Know All About Redevelopment of Your Society
All You Want To Know All About Redevelopment of Your Society
All You Want To Know All About Redevelopment of Your Society
ADVANTAGES OF TENDERING
As advertisement is given in 3 prominent
newspapers society will get good offers from
reputed developers.
As offers are invited in a sealed tender form, there
is aϖsevere competition among the bidders.
As all the specifications and terms and conditions
are same for all the bidders, it becomes easy for
comparison and evaluation.
Earnest Money Deposit in the form of PAY
ORDER payable to the society is taken from each
and every bidder so that unwanted or non interested
parties do not bid for the work
Mode of measurement of carpet area and person
who will certify the same is clearly defined.
Entire redevelopment proposal to be done in
society’s name making it safer for society in case of
any problems faced by developer.
Right to change and or remove developer staysϖ
with the society.
As all the details pertaining to commercial terms
such asϖ Bank Guarantee, temporary
accommodation, cost of additional area etc is clearly
defined the chances of ambiguity and disputes are
virtually non-existent.
ϖ Detailed technical methodology of work is laid
out in the tender document under the head of
technical specification.
Basic rates are mentioned in theϖ tender document
enabling members to change any specification for
their individual uses.
Right to check amendments of plans during the
progress ofϖ work is kept with the society.
Material to be used is spelt out with brand names to
avoid any confusion.
As all the items are defined clearly theϖ chances
of getting realistic offer are excellent.
Consequences of delayϖ are defined in tender
document.
Tender is a legally binding document.
Bye Law No 158 recommends need of tender
document for construction of building.
After a proper feasibility report is submitted, the
next step in the process of Redevelopment of any
society is the most important one, viz: Selection of
the PERFECT DEVELOPER, who will meet all the
needs of the society, and at the same time be
financially stable, and having a lot of experience of
Redevelopment because unrealistic offers can often
lead to redevelopment projects being stalled and
leave residents in a fix.
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What is FSI?
STAGES OF REDEVELOPMENT
1. Offer letter to the society
2. Terms and conditions with the society
3. Agreement with the society
4. Sanction from MCGM in favour of the society
5. Loading of TDR in the society’s name
6. Obtaining the IOD
7. Shifting of the members
8. Demolition of the building
9. Obtaining the CC
10. Construction of the new building
11. Obtaining the OC
12. Shifting the old members