‘We stick to our basics when it comes to redevelopment’
Realty Plus speaks to Anand Gandhi, Co-Founder & Director at Sugee Group, gauging his opinion on the benefits of redevelopment. He firmly states that when it comes to redeveloping a property one should stick to the basics.
What are the advantages of redevelopment over repair?
A regular repair may increase the life of the building by another 4-5 years but such an option will not be viable. Let me list down a few benefits of redevelopment.
Challenges in the redevelopment of housing complexes.
Ground rules to keep in mind when it comes to redevelopment.
There is no special trick to this. We have to stick to our basics. But we would say 1. Making sure all the members/tenants are comfortably rehabilitated and 2. Sticking to committed timelines.
Does the revised DCR benefit redevelopment of buildings?
Yes, it does benefit in a few cases. There could be higher FSI based on the prevailing road-width.
Is self-redevelopment the future of Mumbai Real estate?
Self-redevelopment will be the future of Mumbai real estate only in cases where all the members are able to come on a common platform. Plus, the financing required for the redevelopment will have to be borne by the society… While on books there is never a no, I personally believe that there are too many fine details that one has to go through in terms of environment clearances, safety, traffic issues, the fairness of allotment, finance management, etc.
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