Redevelopment

In builder-led redevelopment, the developer usually covers all costs. In self-redevelopment, the society arranges finances through banks or housing federations.

It can be, especially for financially strong and well-managed societies, but it requires careful planning and execution.

No, under new rules, if 51% of members give consent, the redevelopment process can proceed legally.

Residents are provided with temporary accommodation or rent compensation during the construction phase, as agreed in the redevelopment agreement.

In builder-led redevelopment, the developer usually covers all costs. In self-redevelopment, the society arranges finances through banks or housing federations.

From feasibility to final possession, it can take 2 to 3 years depending on approvals and construction timelines.

The society must conduct a structural audit and call a Special General Meeting (SGM) to pass a resolution with at least 51% member consent.