Self-redevelopment
Self-redevelopment is when existing members of a housing society take on the responsibility of redeveloping their own property, rather than relying on external developers. This concept has gained popularity in older residential societies facing issues like dilapidated structures, outdated amenities, and the need for overall improvement.
ACCESSMENT
Why self-redevelopment?
- Ownership – Members takes the ouns of redeveloping their society.
- Self- management – Members share responsibilities of execution as per their expertise and time.
- Minimisation of developer dependency – The society members’ acts as developers of the projects.
- Transparency – Regular meetings are held to check the progress and ensure the project is on track.
- Financial participation – Funds are collected are managed by the members for handling the process from planning to execution.
While self-redevelopment concept is exciting, it may be overwhelming to execute
Lack of experience in construction related project management
Lack of time: Personal work priorities may delay the project timeline
Members coordination: Conflicts and trust issues may arise due to differences of opinion
Lack of experience in handling permissions and liasoning work
Fund management and working capital issues
Lack of knowledge of compliances, taxations and GST
Contracting with multiple vendors’ coordination might get tedious
Outcome might not be as expected or premium as desired
Associate with Associated Recons for your timely execution
Why Associated Recons?
10 years of redevelopment expertise | Collaborative partnership with residents | Professional approach and processes
We bring a decade of experience and expertise in redevelopment projects. In self-redevelopment projects we work as your contractors providing finance to redevelop at cost along with sales and marketing functions. This way society gets best of the both worlds.