Redevelopment Process

Redeveloping a housing society in Mumbai is a complex process governed primarily by Section 79A of the Maharashtra Co-operative Societies (MCS) Act. Following the latest amendments, the process has been streamlined to favor faster decision-making and better member protection.

STEP 1

OFFER LETTER

An Offer Letter is shared to the Society by the Developer & after discussions, meetings the offer terms are finalized mainly on the Commercial terms.

STEP 2

LETTER OF INTENT

Once the terms are finalized the society will issue the Letter of Intent via a resolution being passed in the Annual General Body Meeting (AGM) to appoint the developer. (1st Major Milestone)

STEP 3

DRAFT PLAN & ALLOTMENT

After the LOI the Planning phase starts which involves getting all the documentation done with respect to legal documents, architectural Design and planning for getting the approvals from the competent Authorities. Once the architectural design is finalized the Entitled Area and Flat details will be shared with the members.

STEP 4

DEVELOPER AGREEMENT & CONSENT

The DA will be drafted by the legal team & all the intricate details with respect to the arrangement will be mentioned in IT. After paying the Stamp Duty the DA will be registered and signed by Society Office Bearers & POA holder of the Developer. (2nd Major Milestone)

STEP 5

APPROVALS FOR IOD

After the execution of DA, the Approvals from the Competent Authority will be sought as per DOR. And IOD approval will be taken. (3rd Major Milestone)

STEP 6

VACATING OF SOCIETY

The Tenant of the building will be given a 15 days notice to vacate the Plot and once all the members have vacated the demolition of the Old building begins. (4th Major Milestone)

STEP 7

OBTAINING CC

Once the IOD is obtained and Demolition is completed the MCGM shall enable the developer to start construction up to the Plith line via PLINTH CC. MCMG Official will check the Plinth condition and further issue CC beyond the Plinth up to the IOD plan approval.

STEP 8