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There are many alarming factors that contribute to the miserable failure of redevelopment projects including unwarranted delay.  One of the major factors is delay in completion of redevelopment project by the Developers. 

Housing Societies under redevelopment and its members usually become restless on the day when redevelopment construction stops and the bulldozers are silent. The silence may signal the Developer's default on the project, leaving them also to worry about completion of their redevelopment project. There are many factors/questions that arise during the ongoing process of redevelopment and they are to be taken care of diligently while any Society is opting for Redevelopment. 

There are numerous factors which are responsible for a failure/delay of any redevelopment project. The Developers go bankrupt and they abandon their projects before completing all the units and amenities they promised in their glowing brochures. More often, slower sales of saleable areas of their one or more projects mean that generation of working capital is at a halt or diversion of funds from one project to another is one more cause of concern and the redevelopment projects that were supposed to be completed in two years, are stretched out to six or seven years followed by non-payment of further rent to the members of the Society. 

In either abandoned or delayed redevelopment projects, the member of the Societies that are staying in hired homes with high expectations of their new flats are left with their whacked dreams contrary to the plethora of promises that were given by the malicious and dishonest Developers. 

While selecting a Builder, both financial and quality aspects need to be considered. Most Societies focus on only quantitative financial terms which include the carpet area offered to each member, the corpus amount offered, rent for alternate accommodation, shifting charges and penalties. What are ignored here are the qualitative aspects of the Builder which would include past experience and track record. Extensive research needs to be done on the Builder's construction, marketing and legal track record. 

Selection of Developer should not be scaled on the basis of various exorbitant offers but should be according to his standing/reliability/integrity and market credibility. Avoid litigation with the Developer since it is basically the Society and its members who may be at a loss due to time consuming process of Law. 

Selecting an accountable and trustworthy Builder is a difficult task to ensure successful redevelopment. A redevelopment project going wrong can have disastrous consequences for all residents and it is invariably the Housing Society's honest and efficient Managing Committee that becomes the scapegoat in few cases. 

The Society should carry out analytical check of at least two or three other Societies where the Developer has constructed and delivered the similar projects. It is essential to establish whether he adheres to promises on quality and timelines as documented in the Development Agreement and provides sound infrastructure and finishes. 

Numerous cases are on record of the Press where the dreams of innocent middle class families are crashed when the redevelopment assignments undertaken are neither accomplished in given time by Developers chosen by Housing Societies nor are the promised facilities made available to them or never provided. There are types of voracious Developers of III Class Category who have held the Societies at ransom by delaying the redevelopment projects due to paucity of inflow or diversion of funds from the assigned projects in order to acquire more and more projects beyond their financial means or are simply not capable to execute the projects due to lack of competency. 

Please remember that going in for redevelopment without knowing the precise procedures and processes involved is like walking on the edge of a cliff blindfolded as you have no idea when a wrong step could send you tumbling downwards. Essential information about any Developer is one concept where half knowledge is infinitely more dangerous than ignorance. Selection of a Developer without carrying due diligence study will translate all your efforts null and void. Clearly, the need of the hour is that those standing on the threshold of redevelopment receive advice from counsellors like us having the integrated knowledge, experience and expertise and are able to assist your Society in selecting the meritorious Developer.                                                                                                                                     

Redevelopment is the magic mantra that turns dreams in to a reality provided the Society members are aware of the procedures and processes involved. The adage 'Knowledge is Power' applies impeccably to the redevelopment process. Knowledge is basically what differentiates Housing Societies that have successfully undergone redevelopment from those who are still languishing in dilapidated buildings. 

It is worth to mention here that in the name of redevelopment of old Housing Societies in Mumbai, the various authorities, in last few years have carpeted free ground to breed rampant corruption to benefit the private Developers to sub serve their illegal and deceitful objectives to garner huge profit. This is most required of the Government to impede the members of Managing Committees to enjoy the sleep with the Developers for few greens and thrust redevelopment idea on the innocent and gullible members. 

With regard to Law & Order, the Indian Police has always remained in forefront to protect the cold-blooded Developers and milk them as often as needed. Even basic functions like lodging a FIR against the fraud and cheat Developers is firstly not registered, victims are encouraged and even threatened for not to file an official complaint. If a case somehow gets registered, the police usually do not take any action as the con Developers, corrupt politicians and policemen go like hand in glove to share their piece of meat. 

There are numerous instances where firstly, the members of the Managing Committee are hooked by certain unscrupulous Developers and entice them of unlawful gratifications with substantial cash or in kind and use these Managing Committee Members as agents to pursue and pass over the rosy dreams and benefits to innocent members of the Society and criminally ensure that the redevelopment project is bagged by the Developer of their choice. 

The corrupt members of the Managing Committees also resort to arm twisting, harassment and threatening method to the flat owners into submission as per the Developer’s orders. Scared by such hounding tactics, most society members accept and tender their consent towards the redevelopment of their society without any protest and prefer to go along with whatever the members of the whole Managing Committee decides.                                                                                                                    

It is well known fact that the illegal gratifications and lavish spending by a large cartel of unscrupulous Builders entice the members of the Managing Committees of Co-operative Housing Societies and provoke them to turn against their own members of the Society in the matter of obtaining consent and force implementation of redevelopment. 

 

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