New Real Estate Bill 2011 coming soon

Greetings !

A new Bill to regulate Real Estate is in the works. The Govt is keen to introduce the same in the next session of the Parliament . Click here to read more about the same.


with warm regards

Suresh Ramani
Consultant - Society Management & Redevelopment
www.tdrmumbai.in

Are the Realty prices due for correction?

Greetings !

A question which is uppermost in the minds of people in the market to buy a new house is whether a downward correction is due? I believe so . In fact its overdue. There is an interesting article which I came across which is in sync with my thoughts. Click here to read the same.

with warm regards

Suresh Ramani
Consultant - Society Management & Redevelopment
www.tdrmumbai.in

Is Bank Guarantee important

Greetings !

Many well known developers while negotiating with Societies for redevelopment projects , mention that they prefer NOT to give a Bank Guarantee as their name is the Guarantee. They also offer a better deal if the Society opts out of Bank Guarantee.

My view is that a Bank Guarantee is a useful Tool which reminds the Developer to be on track . Even the best of Developers can default . So its better to be extra cautious rather than aim for maximizing the benefit . In my experience with many Societies , the chances of successful project completion are better when there is a Bank Guarantee involved.

with warm regards

Suresh Ramani
www.tdrmumbai.in

Should You Redevelop Your Society Yourself?

Greetings !

Almost anyone who wishes to redevelop his Society ,he thinks of going to a Builder for the same. Is that the only way you can go for redevelopment ? Not really . There is another, though not very popular route which can be taken.  The Society members can consider doing redevelopment themselves . What I mean is that they can decide to engage the Contrator for doing the job. But the extra area benefit would go to the members without having to share the same with the builder.

Advantages:
1) All the extra FSI goes to the existing members who get double their existing flat area
2) Members can be sure  that they will  not be cheated  by the builder .
3) Planning can be done taking into account the preferences of the members.
4) Existing members take share all redevelopment benefits among themselves instead of sharing with builder.

Disadvantages:
1) For 2 years when the building is being constructed, the members will have to pay the rentals from their pocket.
2) The Members do not get any Corpus and hence the new Society maintenence charges which will be much more than the old rates, will have to be borne by the members.
3) Members may not be able to "manage" various Municipal Agencies  as well as the Builders .

So if this option has to be considered , then Members should be aware of the pitfalls. Are there any Societies who have taken this route? Sure . I know some and they are extremely happy with the results .

I leave you with this food for thought and would love to get your feedback on the same.

with warm regards

Suresh Ramani
Redevelopment Consultant
9820567323  

A Society Redevelopment Blog is Born

Greetings !

Over past couple of weeks , I have been contemplating publishing a Blog with focus on redevelopment of Housing Societies in Mumbai. Finally , after much goading by a few friends, I decided to take a plunge.

So what is the vision of this Blog ?  In simple terms, it is aimed at helping many people who stay in Housing Societies of Mumbai, achieve their dreams of a Brand New Redeveloped Society. I have been involved with the process of Society redevelopment for a few years now. All those learnings , I wish to share with my fellow friends.

To begin with , here are a few reasons why Old Societies shhould go for redevelopment :
http://tdrmumbai.in/whyredevelopment.html

I do hope that you will find my articles which I publish in my blog useful and helpful in achieving your dreams.

with warm regards


Suresh Ramani
www.tdrmumbai.in