Self redevelopment schemes without the help of bank loans. Chandrashekhar Prabhu explains.
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- We have discussed the various funding agencies funding self redevelopment in our earlier posts. There are societies which have successfully implemented self redevelopment schemes without loans taken from any HFC, NBFC or banks. Chandrashekhar Prabhu analyses the completed schemes and explains how this is possible.
#selfredevelopment #chandrashekharprabhu #housing
Do you give These services of societys self redevelopement iinclusiive of ** total self redevlpement package on turnkey basis in pune.
This is neither my business nor my profession. I guide societies for self redevelopment and help them as and when they require it. This is part of my social work and no charges of any nature are expected from the societies.
अप्रतिम मार्गदर्शन..... सखोल अशी माहिती आपण दिली आहे... धन्यवाद. आपणास विनंती आहे की हीच माहिती आपण सोप्या मराठी भाषेत करून आणखीन एकदा सभासदांसाठी उपलब्द करून दिलीत तर आमच्या संस्थेच्या सभासदांना आणखीन स्पष्टपणे अंगवळणी पडेल. आजचे आपले स्वयंपूर्णविकास विचार व मार्गदर्शन खरंच सभासदांनी अवलोकन करून आपापल्या संस्थेत कृतीत आणण्यासारखे आहे.👌👌👌👍👍
I have several posts in Marathi on my TH-cam channel for those who want this explanation in Marathi. Furthermore, TH-cam has more than 700 other posts of speeches made by me at special general meetings of societies which have been uploaded by the societies on their own. You and your friends can access them easily.
Needs guidance
If a society has terminated redevelopment project with a developer due to non compliance and works as per DA & now same society’s going for self redevelopment & appointed a pmc as per requirements of procedures my queries is society Being developer will now have to pay for IOD or the payment made by earlier developer is still available (credit)Request guidance as someone tells check online it may be still available (credited to society’s AC if earlier developers has applied for IOD in society’s name
You will have to take legal opinion in this regards and then go by the best option available to you.
Sir aap ka mobile no..pls
team.chandrashekharprabhu@gmail.com
Self redevelopment of pagdi building is possible and beneficial as what society in south mumbai?
If landlords and tenants together form a society self redevelopment is possible
@@chandrashekharprabhuoffici686 thanks for reply, please let me know the current rule of min carpet area for tenents for CESS building in south mumbai area by developer.
Thanks lot PRABHUSIR! You are the pioneer of the self redevelopment movement at the time of BUIDER FRIENDLY happenings. This video is eyewash for those who always not having trust on self redevelopment and it's also proved that self redevelopment can be done without loan ! The co operative Housing society can raised funds as per your valuable ideas and suggestions with the example! TRULY IT'S UNIQUE! LOTS THANKS SIR!
Thanks for your kind words.
Sir, is registration of the project under RERA a pre-requisite before the Society can enter into an agreement for sale with the relatives of members, who are technically outsiders ? If yes, does it mean that all the expenses prior to RERA registration, must be financed either by sale of additional area to existing members or through a short term bridging loan to be taken by the Society ? Further, what collateral can the Society offer for such a bridging loan ? Thank you for considering these questions.
Good question. Extra area for members does not require rera registration. The second category of registering demand is from blood relations. That is son, daughter, grandson, granddaughter, father, mother, etc. The blood relations have at some point in time stayed with the members and there will be enough proof of this stay hence the RERA registration will not be required. Also the allotment initially can be done in the joint names of the members and blood relations. The member can later get his name struck off, and the blood relation become the sole owner of the flat. So the first category and second category of demand assessment can be done without the rera registration. Now we come to other relations, the third category. Every cooperative housing society is entitled to announce a fixed deposit scheme for members and relatives. This scheme has no commitments for booking of flats. The deposit is in the name of the relative and the interest will also go to him. The society can take a overdraft on the fixed deposit with the consent of the depositor and the general body. This way the money required before rera registration can be raised. Now. Coming to calculate the actual money required to get IOD, the fees of the professionals and the scrutiny fee are the only expenses. The appointment of the professionals should be conditional and one condition is that no amount is payable until the IOD is received. So that leaves only the scrutiny fee, which is in a few lakhs and hence can be paid from the initial amounts form members who buy extra area. Since the IOD is taken only for construction up to plinth level, payments of premiums and for TDR are not required to be made at this stage. So, no money has to be contributed in any form whatsoever by the member who does not buy the extra area. I hope this answers all your questions.
Redevelopment without bank's assistance is a good step forward.
As explained in last post, in lieu of a builder, a contractor is appointed to get the construction done with the help of technical experts like Architect etc. My query is,
Is not it compulsory on the part of the said contractor, to get himself registered with RERA ( as it is in the case of a builder ) ?
Builders get registered with RERA, not contractors. Contractors are not required to get registered separately under RERA though their names are always recorded. In a self redevelopment scheme, if the flats are to be sold to outsiders, the societies have to register under RERA
Thank you sir for all the information!!
सर मी घाटकोपर ला राहतो आमच्या इथ्ये बिल्डर आला आहे आणी आम्हांला ही विकास हवा आहे. मी चाळ मालक आहे, चाळ पण जुनी आहे पण जमीन आपल्या मलकीची नाही.
तरी आपण री डेव्हलपमेन्ट करू शकतो का?
Zameen aaplya nave asel tarach aapan punarvikaas karu shakta.
Varadarajan
Thanks for your very informative vedio on self redevelopment.
Sir, we have a 40year old society in Vashi Navi Mumbai.
As a chairman, I would like to contact you to go ahead with self redevelopment of our society building.
Please furnish your contact number to seek your to help.
Please give all details of your society and your telephone numbers on team.chandrashekharprabhu@gmail.com
I have only 1 question to ask your goodselves, that how do society doing self 're development can pay rent to tenants who are presently staying in society. Pls explain
Under the present scheme those who are buying extra area can pay their own rent, and the amount paid as rent can be accounted in their name as payment towards extra area. The upfront amount to be paid is kept as fixed deposit, and the society can take overdraft against these fixed deposits to pay rent to those who do not wish to buy extra area.
Thank you sir, for all that you are doing for the society at large
Thanks
Sir,all figures like 20%less for blood relation etc.will increase customer.This incentive will surely give revenue.
Thanks
BEAUTIFUL, ENLIGHTENING TALK ON SELF REDEVELOPMENT 🙏👍👍👍
Thanks
You r great🙏🏻 sir can u put some light on ulhasnagar kalyan ambernath areas. Even some of well known architects r not well versed with the New dp rules.
Now we have unified DCR for all cities in Maharashtra
Sir 🙏 indeed appreciate your efforts to disseminate the understanding of redevelopment.
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Thank you very much Sir for sharing all this important information. Sir, if you can please share a video on the GR and concessions a CHS gets on self redevelopment? Thank you Sir.
Please see my earlier posts. There is one on the GR mentioned by you.
@@chandrashekharprabhuoffici686 thank you very much Sir. I will check it.
there is a difference in commitment and agree to buy even at 15/20 % discount.....how do u address this...also there is seed money required for getting permissions upto IOD....would that not need initial contribution from the members?
No contribution is required. The members who buy extra area can pay a small percentage upfront
Thanks
Can we Construction Residential building into wholly or partly Commercial Building and partly Residential under Self Redevelopment scheme as Per GR. by taking loan from Mumbai Bank. in which 85% Contribution of cost of project by Bank.
Commercial use in any building is possible in areas designated for mix use in the development plan. If your land falls under the zone where such mix users are permitted you can avail of that option. Mumbai bank has presently stopped sanctioning new loans as per RBI directives. It has appealed to RBI to permit them to lend for self redevelopment. The decision is awaited.
Thank you prabhuji...you are doing a noble work indeed ....god bless you
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Very well explained sir, appreciated but THERE IS ONE SERIOUS CONCERN.. IRRESPECTIVE OF ANY HUMAN RELATIONS, THE CONDITION TODAY AS FAR AS MUMBAI INFRASTRUCTURE IS CONCERNED, THERE ARE PLENTY OF HOUSING UNITS UNSOLD. So, probably the concept would definitely work if the market has some future hopes which i see is quite rigid in current trend. Any father, mother, brother, sister would want to have atleast a decent amount of revenue for the said purchase under this sandwiched recestion.
No offense but i want to share my personal experience. A couple of years back in 2017-18 my milkman who delivers my pure tabela milk for about a decade received a call from lodha world one if he was interested in purchasing it. 😂😂. He had no words to describe that and told me sir, hum kharid k kya karenge ???
We had a small laugh and he left back.
No offense, but the initiatives are cleverly drafted but MARKET HOPES CAN ONLY TAKE IT FORWARD.
Thanks 🙏🙏
Dear Meet,
I was in two minds about replying to your comments. I was not sure whether I should dismiss them as amusement or total lack of knowledge of facts. However since you have raised some issues which you feel are serious concerns let me set the record straight. Firstly you are writing to someone who has been in academics and research for over 3 decades. Like a good academic I hate in accuracies. In one hand you mention unsold flats and on the other the other the concern for inadequacies in infrastructure. If we do not have adequate infrastructure then the unsold flats do not pose further damage and hence are complimentary to the infrastructure availabilities. Several of my students have conducted research on why the flats are unsold and the research is available in public domain and hence I would not quote from it. The crux of the matter is artificial price hike to attract FDI and out of sheer greed. In self redevelopment these great deficiencies are not existent and hence we have had no problems to create demand for our saleable area. I was only stating he facts from successful projects. It is obvious that builders and their lackies will not like this success. They have been thoroughly exposed. So such arguments out of sheer ignorance or deliberate misinformation are bound to be planted. The movement for self redevelopment has thrived despite best efforts and money spent to spread disinformation to undermine the movement. Our March will now continue since the momentum has been gained.
Very Informative👌 👍Thanks Sir🙏
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Excellent information and strategies to raise funds without help of Bank,
Indeed appreciable
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Sir really found it worth going for self redevelopment the way u explained if it works ideally.
Sir how can v connect to u? We are brooding for the same.
Please check my latest post
Sir really would be happy to meet and understand from u
Check out my latest post. My email and phone number is mentioned
Sir, thanks for valuable guidance. We,the members of our society want to meet you regarding self redevelopment of society building. It is on MHADA land at Charkop. Please give your valuable time.Thanks 🙏
team.chandrashekharprabhu@gmail.con
.com
Can you please provide guidance on how to go for self redevelopment in CRZ II area as the new CRZ rule has been linked to CZMP and we are not able to get the benefits of additional FSI?
CRZ II areas will get the benefits of additional FSI once the CZMP is published. Presently there has been considerable amount of delay to publish this plan. The state government has written to the centre with a request to publish at the earliest. We are all awaiting the plan. Not sure whether it would ultimately do good to the environment or otherwise, but that’s what is the present status.
Not sure of bridge loan.
Bridge loan can come from NBFCs
sir what is the society name who got loan from Indian bank and Karnataka bank. i would like to study that model. I am CA and would like to help. Indian bank gave loan just basis the projections?
You are welcome to contact me. I will give you the details.
@@chandrashekharprabhuoffici686 where to contact you? Pls share details
सर खुप छान मार्गदर्शन आहे , मराठी मधून असल्यास आमचे सोसायटी सभासदांना समजण्यासाठी सोपे होईल. मराठीत सुद्धा VIDEO बनवा सर.
Aapan mazya TH-cam channel la subscribe kara 7 Marathi va 2 Hindi videos aahet. Hyashivay TH-cam var kimaan 700 videos Marathit aahet. You tube var jaavoon search madhye maze nav type kele ki sarva videos pahayla miltil
Very informative session sir
Thanks for enlightening us
Thanks
आप बहुत अच्छा काम कर रहे है
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Well explained
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Gm sir
GM
Sir our scty needs development how an I personally speak to you any number
Kindly reply pl
team.chandrashekharprabhu@gmail.com
Please email at team.chandrashekharprabhu@gmail.com
Small pagdi buildings of 500sq mtr not viable in these schemes after paying landlords demands as no tenants are in position to buy extra area
You are mistaken. They can be made viable. The recent amendment to the MHADA act is retrograde and not helpful to the tenants cause. However if tenants are united a viable option can be worked out.
Sir can you pls make redevelopment video on small pagdi tenanted building of 500sqmtr since such buildings are mostly majority and will be helpful to masses
There are videos on my channel for small buildings on Pugree. Please watch them.
What if Society Get Huge amounts of profit after deducting all Expenses. ?.
what will happen to the huge amount of Net Profit ?
it can be Distributed among all Existing members. ??......
or It will Remain in Bank accounts forever.
And in case if out of 15 20 Existing Member only 2 4 member invest their Own money for Redevelopment.
then a Investing member can get the whole profit from selling Extra Remaining flat after deducting cost of Redevelopment. and flat giving to Existing members. ?....
Sir pls Reply.
In self redevelopment the SGM of societies take decisions on what is to be done with the surplus amount. We take advice from CAs and choose the best available option. Every member has the right to buy extra area over and above that which is available free. Societies work out instruments to ensure that this advantage is for bonafide use and is not misused. In case of speculative sale, the discounted amount can be recovered from the member selling the flat immediately after buying extra area at a discount.
@@chandrashekharprabhuoffici686 in my society all members are ready for Redevelopment but out of 15 member only 4 member has money so they are ready to Invest whole Construction cost. but they want Benefit by selling extra available flat into their pocket Like a Developer ( Builder ) get.
Instead of giving benefits to builders or interest to banks if your members are willing to put in the money there is no harm if they benefit. However the benefits should not be at the expense of other members. As long as all members get more area and corpus than what builders offer, the rest of the surplus can be shared with the members who invest. That would be a fair deal.
@@chandrashekharprabhuoffici686 Okay tysm sir.
i have your Email ID I will send you mail and contact you. for future Need.
ty 😊
team.chandrashekharprabhu@gmail.com
very Good God bless you
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