Redevelopment - Norms

Redevelopment is basically any new development or construction on an area that had a previous structure. It overhauls the way of life of individuals right now living in the structure and makes space for new individuals. Today numerous buildings & societies in Mumbai need broad makeover & repairs. Notwithstanding, they think that it's hard to organize the assets required to do the same. Moreover, development in the measure of families has made a requirement for bigger spaces. Old social orders have certain basic downsides containing an absence of security, non-accessibility of play ranges for kids, leakage issue, absence of attached toilets in the rooms, lack of parking lots and some more.

Redevelopment has been an exceptionally positive approach that has changed numerous urban areas around the world like Hong Kong and Singapore.

As of now, the city of Mumbai is attempting to change its decrepit structures to multi-storied buildings containing cutting edge offices. We at Sapphire Group might want to be an important part now in changing the horizon of Mumbai

Redevelopment is the essential requirement, especially for the city of Mumbai, with its shortage of space and a prospering populace. Considering the lack of developable land, redevelopment is no more extended an alternative, however, a need. This has changed Mumbai's cityscape as structures which are very old with an unutilized Floor Space Index (FSI) are being annihilated and highrise towers taking their place. Actually, all rural development extends as of late have been redevelopment ventures.

Benefits

1. Making of a Corpus Fund by the builder to cover the member's share of maintenance expenses of the redeveloped     property.These funds can likewise be used for different purposes according to the choice of every individual society member.

2. Other than the extra area that every member would get in the new building as compensation, a member can buy additional     area from the builder at the best rates.

3. Accommodation charges of each and every member including rental charges, migration expenses,broker commission will be     beared by the developer.

4. Best in class technology guarantees safety and security with CCTV systems, intercom, smoke detectors, fire fighting systems,     high speed lifts etc.

5. Redeveloped projects accommodate adequate parking area with basement or stilt platform parking provision and can solve     the parking issues multiple vehicle owners



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