Get a better deal & retain your location advantage

Redevelopment is not about demolishing your old house, but reconstructing it with ample space. It is a win-win deal for developers and housing societies, said Boman Irani, chairman and managing director of Rustomjee Builders.

“The middle-aged and the elderly have an emotional attachment with their houses,” he said. “Most of them are reluctant to redevelop their old housing colonies. But assuring modern facilities that make their lives more easy and comfortable, we can make them change their minds.”

The common conception is builders and developers cheat residents. “This need not be true. There are various bodies to monitor the work of each builder,” he said. “Our reputations are at stake as well. If we played any mischief and duped any society, then our body could take action against us. There are several good developers, who really want better city development.”

Rajesh Malde, a resident of Matunga who had come for the seminar, explained why he does not regret getting his society redeveloped. “Most of the new projects that have modern amenities are coming up in far-flung areas. We couldn’t have relocated. But we will get to enjoy such amenities in Matunga because we are going for redevelopment,” he said. “The developers are giving us a swimming pool, a gymnasium, and an area for children to play. Also, our flats are going to be bigger.”

Umang Kuwadia, executive director of Happy Homes, said they were constructing houses that would suit the lifestyle of people.