1. Property conveyance document
2. Property Card
3. 7-12 Extract
4. List of members with existing flat numbers and existing carpet area
5. Existing IOD with Plan
6. Existing Occupation Certificate with associated plans
7. Latest CTS Plan
8. Latest DP Remarks
9. AutoCAD of Physical Survey
10. Any Litigation if any in respect of society/Land/third party rights etc.

Generally, Existing members are allocated their new flats below the developers sale flats hence when the project is registered with RERA the Existing members and sale flats are secured. ie:- (When a sale flat is located above an existing member’s flat, the existing member is also secured under RERA guidelines).

The developer will sign a Development Agreement with the society, which will include all necessary provisions to ensure the safety and security of both parties and their members.

1. The redevelopment of the project requires approval by a majority vote at a Special General Body Meeting.
2. It is essential to engage a legal and project management consultant to guide housing society members throughout the procedure
3. Finalize the Draft of the Tender and Finalize the Feasibility reports forwarded by the society consultant
4. The public in general should be aware that the society is willing to go for redevelopment and hence request the developers to participate in the Tendering process and submit the bids and commercials as per the Tender.
5. A comparison chart needs to be submitted by the consultant to the society (Offers, Financial strength, Experience to date, handling capacity, Past history, Deliveries, Company Profile…etc) so that the society can shortlist the right developers and request them for site visit and Presentation
6. The final Offer is to be submitted by the developer so that they can finalize the Developer of the society in the presence of an Officer appointed by the Dy.Registrar.
7. After the Appointment of the developer both parties shall finalize the Development Agreement, Power of Attorney, and Plans which shall be mutually agreed upon and be put forward in the SGM for approvals so that the said DA, POA, and Plan can be submitted for registration and approvals from the authorities.
8. On receipt of approvals from the department and fulfilling all the required compliance as per the Development Agreement the developer will issue Vacating notice and accordingly the society will allocate the proposed new flat to the existing members and the developer will start the process of registration of the Permanent Accommodation Agreement.
9. On receipt of possession of the society the developer will start construction as per the Development Agreement and on receipt of the Occupation Certificate the developer will inform the society to take repossession of their new flats.

1. Financial Stability

   Verify the developer’s financial health through:

   1. Credit ratings
   2. Last 3 years Balance Sheet
   3. Solvency Certificate from National Bank
   4. Network & Turnover Certificate

   Past Performance

   To evaluate the Developer’s Portfolio check:

   1. Years of experience in the industry
   2. Strength of staff
   3. Expertise in handling redevelopment projects
   4. The volume of work done to date
   5. On-time delivery and quality of previous projects

   Delivery Timeline

   The Developer should have an on-time delivery track record. Also, check the copy of the project’s IOD, CC, and OC certificates.

   Quality you Deserve

   The Developer provides a consistent product quality, be it for the existing members or prospective buyers.

1. • It is important to choose the right developer for the redevelopment project instead of solely going for the highest offer submitted. All the necessary details should be scrutinized thoroughly.
   • Development Agreements and plans should be finalized in consultation with the society’s appointed consultants.
   • Transparency is crucial during the redevelopment process and should be given utmost importance.
   • Any illegal activities are strictly prohibited during the process of redevelopment.

A homeowner can benefit from the redevelopment of a project in several ways, including:

1. Additional area above the existing carpet area
2. Hardship compensation
3. Rent Refund
4. Brokerage charges, relocation charges, etc.
5. Increased Value of the property with latest and upgraded amenities
6. Dedicated parking space