The fort in the sector is still held by developers and they believe this will allow residents understand the problems a developer faces when they take up a project.
There are a few groups in the city, who are trying to make self redevelopment 'work' for projects where developers barely have any role to play. However, the fort in the sector is still held by developers and they believe this will allow residents understand the problems a developer faces when they take up a project.
Dr Niranjan Hiranandani, national president, NAREDCO, says, any business or commercial activity can, in theory, be done by those who are not part of that line of work or business. But the question is: How efficiently does it get done then? According to him, self re-development is a praise-worthy initiative. "This is when homeowners get to understand how cumbersome the process of getting permissions and clearances is, as also the issues relating to material and labour cost for the project. The homeowners get to understand why the process is so long, and why cost estimates escalate."
"NAREDCO was established as an autonomous self-regulatory body in 1998 under the aegis of the Ministry of Housing and Urban Affairs. It has the mandate to induce transparency and ethics in real estate business and transform the unorganised real estate sector into a matured and globally-competitive one. So, our perspective would be one where we would welcome such initiatives with the caveat that they need to go through the right set of persons to complete the redevelopment project. Residents who re-develop also need to engage the right sort of advisors and consultants at the planning and permission stage. Similarly, contractors who are chosen for various tasks that make up the process of construction, be it demolition of the existing structure, RCC work, or plumbing, should have the core competence to complete the task properly. As long as they pick the right set of advisors, consultants, and contractors, such instances should work to their advantage."
Redevelopment consists of not just chawls, but also slums, which is one of the biggest sector. Developers say redeveloping a slum is an uphill task and believe if SRA if done via self redevelopment it will put the project in a limbo.
Kaushik More, Director, Omkar Realtors, said, "Self redevelopment in the SRA space is an uphill task, owing to funding, know-how, man management, approvals, and intra-conflict challenges. The scheme has not recorded a single successful case of slums going for self redevelopment till date. While there is a certain degree of interest in propagating self redevelopment, the dynamics of redeveloping a society vis-a-vis a slum project is a complete contrast."
There are some who are encouraging self redevelopment saying it makes residents and societies the master of their own development. Rohit Poddar, Managing Director, Poddar Housing and Development Ltd, said, "Self redevelopment is a good concept. It empowers the members of the society and delivers tangible financial benefits to them."
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