The Redevelopment craze that was seen late during 2006-07 has returned. With the Indian markets doing better compared to the rest of the world, with the recession on the wane, money market is buzzing.
Though the scam tainted congress has pulled back the rally, it is clear that people are confident int he the way they look at the future trend.
Developers have been striking deals with the societies who were waiting for the past 2 years. Apart from Prabha building near the school which was the first to be redeveloped way back in 2006, which was due to the building sinking & declared structurally weak.
Many buildings on 60feet road, some on 90 feet road, ahev already been done and are looking great with the new structure.
In Garodia , Ankur building near Varsha ground has already been demolished & work begun . One more which was near the police ground has already come up & look neat. Buzz is that New Vasant Apartments has finalised their deal, which has been done through the proper Directive of the Cooperative Housing Commissioner has now put in to place. This Directive has been in since January 2009 , wherein the entire process make is more transparent & developers are selected thought tender process.
The entire process is now monitored by the registrar of cooperative society, it give the members of the society complete control of the asset & each and every member can have a say in every step before they give their Final Consent.
Redevelopment is needed in Garodia Nagar but the members and developers should keep in mind the infrastructure which should be able to cope with additional flats being made. Over 40 years and still Garodia Nagar is struggling with sewage water drains, rain water flooding, garbage disposal, water problems.
As many more buildings have jumped the queue to take advantage, developers have become choosy, also many so called builders / developers who were never heard of have been offering higher benefits compared to the reputed / experienced ones.
Societies should be aware and take note and check their background and do lot of research as to the genuinety of these builders. Many front companies for politicians, goons are taking advantage of this, which can make life miserable for the societies in case they get caught up with them.
In all societies should be careful in the process , united as one to ward off any hostile situations which can crop up. Greed and infighting will only help the other parties and this will only hurt their own prospects.
