Redevelopment - Guidelines to be successful
In Mumbai, rising costs and lack of space make it unfeasible for residents to move out of aging and often sadly dilapidated housing societies. Not surprisingly, redevelopment has become a central concept – and the subject of increasingly heated debate. Many of Mumbai’s older housing societies are showing signs of serious neglect. There are distinct safety and security issues and a complete absence of modern amenities. In this scenario, redevelopment is a sensible, viable, long-term solution – in fact, often the only solution. However, while many developers sell the dream of redevelopment to housing societies, there have been several cases where the dream has turned into a nightmare for the families who reside in these societies. Though I will not name them, there are some rather prominent banners among the developers who have defaulted on their redevelopment promises. It is quite evident that selecting a dependable and trustworthy builder who is familiar with and knowle...