By Accommodation Times Bureau
Very few builders agree to take redevelopment projects (societies) in Mumbai, due to which redevelopment work has almost stopped in Mumbai. The societies are now following a new concept of self-redevelopment where no builder is involved. Wedevelopment, an organization helping Societies to Self-Redevelop, has helped societies in constructing two self-redevelopment projects, namely Jayakunj and Harmony in the prime location of Borivali.
It said that around 20,000 co-operative housing societies are waiting to undergo redevelopment work in Mumbai.
Pranay Goyal, MD, Wedevelopment, said, “The initial stage in self-redevelopment viz. arranging finance, gearing up to make tough and critical decisions, working with different professionals gives societies major jitters towards the self-redevelopment approach.”
Gopal Shetty (Member of Parliament), Pravin Darekar (Member of Maharashtra Legislative Assembly, Chairman MDCC Bank), Abhishek Ghosalkar (Director MDCC Bank, Ex Corporator) and Tejasvi Ghosalkar (Corporator) showed their support to the initiative of these two societies.
The organisation works with several renowned experts, following a stringent process to assure that requirements of the societies are met during the entire project lifecycle making the entire self-redevelopment process hassle-free and risk mitigated.
With the lack of transparency and reliability in hiring external builders and developers, self-redevelopment is rapidly rising in popularity among many societies in Mumbai.