How to do a successful redevelopment of your Co-Operative Housing Society

Give an old mobile phone and get a new one:

How to do a successful redevelopment of your Co-Operative Housing Society

You know why most of the redevelopment projects fail?

No. Not because of the builders.

Redevelopment projects fail because of the flat owners - because of the members of Co-Operative Housing Society.

The members of the Co-Operative Housing Society (CHS) treat redevelopment as an exchange offer.

Like - give an old mobile phone and get a new one - offer.

Give your old flat to the builder and get a newer and better and larger flat for free!

They assume that a builder is a shopkeeper who exchanges new for an old.

Because of this wrong assumption, the society members start looking for a shopkeeper who will give them bigger and better houses in exchange for their old ones.

Obviously, the society members become victims of some unscrupulous builder who takes advantage of their ignorance and greed. The builder fails to fulfill his promises. Society members realize that the builder has cheated them.

Then the society members realize that the builder is not a shopkeeper, like mobiles, houses are not manufactured in some factory and redevelopment of a housing society is not an exchange offer.

What does redevelopment mean in real estate?

As the name says - redevelopment means the homeowners decide to demolish their old building and construct a new one on the same plot of land.

Since the homeowners are only owners. Owners of the land and building. They don't know to demolish and build a building. So they hire services of someone who knows how to do it. That someone is called 'Builder'.

When you hire services, you have to pay for it. In cash. But society never has enough cash.

So it decides to pay the builder in kind.

Just like in the old days, the farmers used to pay grains to their farm laborers!

What is the right way to redevelop your Co-Operative Housing Society?

Reminding a homeowner who you are and what is your role and what are your responsibilities is tragic but necessary.

How to wash your butt - how to make a cake - how to wear Saree - are some of the most popular videos on YouTube. This proves that people like to learn what they don't know.

"Why should not we make a YouTube video "How to do a successful redevelopment of your Co-Operative Housing Society"!," I said to Advocate Mahesh Gajendra Gadkar.

Mahesh knows the law. As the Chairman, Mahesh is leading the redevelopment of his Co-Operative Housing Society. He is conducting seminars on redevelopment. He is offering consultation to the societies. And soon, Redevelopment Project Management Consultant (PMC) is going to become his main profession.

Mahesh said yes. We made a video. In 3 parts. In Marathi. And people found them very useful!

Here they are. Please, watch!

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