Understanding Redevelopment
Redevelopment is the process of reconstructing an existing residential or commercial property into a modern structure with improved safety, infrastructure and lifestyle amenities.
It allows property owners and societies to replace aging buildings with new developments that offer better structural integrity, enhanced living spaces and additional value — without losing their original location.
At Giridhar Group, redevelopment is approached with sensitivity to community relationships, transparent communication and professional execution from concept to completion.
Why Redevelopment Makes Sense
Replacing an aging building brings real, lasting benefits to every member of the society.
Stronger & Safer Structures
Modern construction technology ensures structural stability and earthquake resistance.
Larger Homes
Members often receive additional carpet area in their new homes.
Modern Amenities
Parking, elevators, security systems and recreational spaces.
Zero Financial Burden
The developer bears the entire construction cost.
Increased Property Value
Redeveloped properties gain significantly higher market value.
Why Choose Giridhar Group
A redevelopment partner societies can rely on — from the first survey to the final handover.
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Decades of TrustA legacy built over generations across multiple industries.
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Transparent ProcessClear agreements, fair terms and open communication.
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Strong Financial BackingEnsuring timely completion and reliability.
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Quality ConstructionModern engineering standards and durable materials.
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Community-Centric ApproachWe rebuild homes without disrupting relationships.
Our Step-by-Step Redevelopment Process
A clear, structured journey that keeps members informed at every stage.
Initial Consultation
Meeting with society members to understand expectations.
Feasibility Study
Legal, technical and financial evaluation of the property.
Proposal & Planning
A transparent redevelopment proposal and design concept.
Society Agreement
Clear documentation and approvals.
Temporary Accommodation
Rent or alternate housing provided during construction.
Construction Phase
Quality-driven construction with regular updates.
Handover
New homes delivered with modern amenities and an improved lifestyle.
A Legacy You Can Trust
Decades of delivery, built on relationships that last.
Frequently Asked Questions
The questions societies ask us most about the redevelopment journey.
The process usually begins with a Special General Body Meeting (SGM) where members pass a resolution to initiate redevelopment. The society then appoints a Project Management Consultant (PMC) to prepare a Feasibility Report.
It is a document that analyses the plot’s potential. It compares the existing built-up area against the Total Development Potential (based on current FSI/TDR rules) to determine whether the project is financially viable for a developer and beneficial for the members.
While laws vary by region (for example, under Section 79A in Maharashtra), typically 51% to 75% of the total members must give written consent for the redevelopment to proceed with a specific developer.
A Corpus Fund is a lump-sum amount paid by the developer to the society. It is intended to cover increased future maintenance costs of the new building and to provide a “hardship allowance” to members for the inconvenience of moving.
Yes. Members typically receive additional carpet area — usually 25%–35% more than their current area — as a primary benefit of the redevelopment.
The developer pays a Displacement Allowance (rent) to every member from the day they vacate until they receive possession of the new flat. Brokerage and moving charges are usually covered too.
Societies protect themselves by demanding a Bank Guarantee (usually 20% of the total project cost), executing a robust Development Agreement (DA), and ensuring all original property documents remain in the society’s escrow or possession until specific milestones are met.
If the majority has consented and the process is transparent, the society can take legal action under local co-operative laws to evict dissenting members so the project for the greater good is not stalled.
In almost all cases the developer bears the cost of stamp duty and registration for the Permanent Alternate Accommodation Agreement (PAAA) for existing members.
No. The selection must be transparent, usually via a tender process. The PMC evaluates bids on financial strength, track record and benefits offered, but the final selection must be voted on by the General Body. Pro tip: always check a developer’s RERA record and visit their completed projects to speak with residents.
Documents Required for Redevelopment
To initiate the process and allow a developer to perform due diligence, the society provides a comprehensive set of property and legal records.
Title & Ownership Documents
- Conveyance Deed — proof that the land title has been transferred to the society.
- 7/12 Extract or Property Card — recent copies (not older than 3–6 months) showing the society as owner.
- Original Sale Agreements — copies of the first agreements between the original builder and flat purchasers.
- Index II — issued by the Sub-Registrar’s office for the land and individual units.
Layout & Technical Plans
- Approved Building Plans — original blueprints approved by the municipal corporation.
- Occupation Certificate (OC) — proof the building was constructed and occupied legally.
- Commencement Certificate — original permission to start construction.
- N.A. Order — confirmation that the land is permitted for residential/commercial use.
- City Survey Map — defines the physical boundaries of the plot.
Society Legal Records
- Society Registration Certificate — proof of registration under the Co-operative Societies Act.
- Updated Bye-Laws — the society’s latest amended bye-laws.
- List of Members — names, flat numbers and current carpet areas.
- Share Certificates — copies issued to all members.
Financial & Tax Documents
- Audited Financial Statements — usually for the last 3 years.
- Property Tax Receipts — proof all taxes are paid up to date.
- Water & Electricity Bills — recent copies verifying no outstanding dues.
Compliance Documents
- Structural Audit Report — for buildings over 30 years old, from a licensed structural engineer.
- Feasibility Report — if a PMC has been appointed, to convey the society’s expectations.
- SGM Resolution — minutes of the meeting where members resolved to redevelop.
Important Considerations
- Dues Clearance: Ensure all members have cleared their maintenance dues — developers are often hesitant to take on societies with high internal litigation or payment defaults.
- Dissenting Members: If some members have not yet consented, disclose this early to avoid legal hurdles during the Development Agreement stage.
- Originals vs. Copies: Never hand over original documents during the initial bidding phase — provide photocopies or scans only. Originals should be produced solely for verification or held in legal escrow later in the process.
Thinking About Redevelopment?
Let’s evaluate your property and explore the possibilities together.