The need for redevelopment In Ahmedabad

1. 1/H, Captain Nilesh Soni Marg, Pankaj Society,Bhatta, Paldi, Ahmedabad(380007) 079 26601344 / +91 9879243144 www.panchshilgroup.com The Need for Redevelopment in Ahmedabad There is huge potential for Redevelopment in Ahmedabad, due to the constraints on land availability with the mismatch between demand and supply of housing stock. On the other hand, there are thousands of ageing buildings where it may not be viable to carry out structural repairs the only solution is to pull them down and reconstruct them. The problem of dilapidated buildings in the city of Ahmedabad is becoming more acute, with each passing year. Consequently, for a majority of the cities in India, Redevelopment of Old Buildings becomes crucial. With the mid-income segment today becoming a huge purchasing market, developers are moving towards redeveloping older structures into modern luxurious buildings with facilities like sufficient parking, open areas. In the ultimate analysis, complete and timely delivery seems to be the most crucial factor, when it comes to redevelopment. What is Redevelopment? Redevelopment is the process of demolishing existing old society building and reconstructing it by appointing a good developer who can construct and handover new flats to the society members free of cost with some additional benefits and make profit by utilizing balance plot potential by constructing additional flats and shops as per approval from concerned authority. Benefits of Redevelopment, to developers and tenants Builders/ developers, who opt to purchase land and develop the same, incur huge stamp duty cost, vis-a-vis transfer of the land. However, when it comes to redevelopment of old buildings. The stamp duty is reduced by a significant extent and this acts as a major benefit for developers. Tenants to get several benefits like hassle-free execution, extra carpet area, corpus fund, upmarket amenities and hi-tech gadgets such as cctv’s, intercom / video door phone systems, smoke detectors, fire fighting alarm systems, bore well with rain water harvesting system, high end elevators, society office if permissible, earthquake resistant and well planned apartments and alternate accommodation or rent compensation. For the period during which the building is under construction. Download Society Redevelopment Form: Click Here