A self-redevelopment plan is a concept that lets residents take the responsibility of re-building the society instead of the builder. It allows them to make the process faster and stops the misuse of funds.
Here are a few steps to be considered to make a redevelopment scheme.
1. Approval from the society members
There must be consent from the residents/members for a self-redevelopment plan, as per the new rule under Section 79A of the Maharashtra Cooperative Societies Act, 1960, reconstruction projects must get the consent from only 51 % of the apartment owners.
2. A structural report
This report consists of consumed FSI-Floor Space Index, the carpet area of existing units, the revised TDR, fungible FSI, current development regulations, and the cost break up for the execution of the project.
