Redevelopment Of Co-Operative Housing Societies

        With the real estate prices touching a new high, residents in old buildings are now discovering that they have an opportunity to unlock immense value from their property by offering it to a builder/developer for redevelopment. Developers, on their part, are also on the lookout for properties with unused development rights where they can build a new structure of a few storeys higher and sell those additional flats for a tidy profit for them. While it may sound like a typical 'win-win' situation, the process of redevelopment isn't as easy as it sounds. It comes with a set of rules, procedures and implications which you need to understand.


It is needless to mention here that the Redevelopment of housing societies is usually burdened with bitterness and complaints of high-handedness and corruption against the Managing Committee. Hence, with a view to ensure transparency in societies seeking to undertake redevelopment projects, the State Co-Operative Department has, for the first time, issued guidelines for societies to follow under section 79 (A) of the Maharashtra Co-operatives act, 1960.

The recent guidelines are issued by a committee comprising the co-operatives commissioner and CIDCO chairman pursuant to a deep study of complaints by members of Housing Societies undertaking the redevelopment of their property https://irinin.com/. According to an important feature in the guidelines, a redevelopment scheme has to be approved by the general body only if three-fourths of the society members are present at the meeting.


The subject of redevelopment has assumed great significance because in Mumbai, majority of the buildings owned by the Co-Operative Housing Societies are quite old and in a dilapidated state. In case of redevelopment of old buildings which have completed 30 years or are beyond repairs as certified by the Govt. approved architect on the basis of his "Structural Audit".


The first and the foremost step before going in for redevelopment would be a structural audit of the building. The structural audit report will determine whether the building should go in for redevelopment or for major repairs. In the absence of the technical report it would not be legally permissible to pass a resolution in the general body meeting. However, it is a fact that many co-operative societies suddenly call for General Body meeting and decide to go in for redevelopment in the absence of a structural audit report.


There are two important things in a Resident/Developer arrangement. One is from the commercial angle and another is from the technical angle. A Developer usually assures a certain amount of cash by way of corpus, an additional area or a mix of both. He may give an alternative accommodation for your temporary stay, foot your rentals or give you a monthly compensation within which you have to find your temporary accommodation.


Before you negotiate with a Developer, you need to establish the market value of the property you will receive on completion of redevelopment. This is a better approach than quoting a random figure to the builder that would make them feel short-changed or the high amount would make the builder shy on the new project.


The technical angle refers to the finished good. Does it match the quality and terms and conditions assured by the builder? In fact, at the agreement stage itself, the society residents should appoint a lawyer to draft and finalize the agreement. It usually takes a year for a builder to convince the society members and take an in-principle approval. The society members should ensure the timely completion of the project which is the most important detail to be mentioned in the agreement.


Is News Paper Classified Advertising Effective?

This is a powerful topic that is often over looked. The age of the internet has saturated public minds for over the past twenty years or more. People still read printed material regardless of the internet craze. It amazes me as I realize how many people tend to equate the internet with scandalous activity. Printed text is regarded more trust worthy. This is of course ridiculous, however it apparently holds true for public awareness. The mass appeal ( at the time of this writing) is still with printed text, in terms of security. The average reader actually thinks printed text is more reliable. It's probably because they think there is more scrutiny involved with publishing news papers, books and magazines. You actually may know that, at the time of this writing scrutiny exists in both media forms. It's my personal experience to see internet security measures on the same level as printed material today. One form is no more secure then the other. This is like trying to analyze which is more blue, a blue crayon or the sky on a sunny day. We acknowledge, as a whole the public is basically "seasonally impressionable."


Classified advertising in news paper advertisements remains to be one of the most cost effective ways to reach the masses. Looking backward, I find Paid per Click advertising has become saturated to the point, where only a few can manipulate key words for a high position and that's only momentarily. The rest of the marketers must wait for their chance to rise up to at least fifth position, on the search engines. Practically no one ever remains at top position, on the search engines and if they do, they must "submit their first born child" (That was only a joke to imply the incredible monetary and contextual challenge of being involved with Paid Per Click Advertising). the impracticality of Paid Per Click Advertising permeates my thoughts with memories of being hustled.


The down side of News Paper Advertising is when you have to run a lot of ads in order to get a discount. Then the classified advertising manager may say you can't get a "tear sheet." A tear sheet is evidence the ad ran. Sometimes the discount advertising managers claim they can't give a tear sheet. Sometimes they claim that the quantity of different papers are so numerous, they can't keep up with all the insertions https://uaeu.top/. I personally think a reply, like that is rubbish. When ever running ads do your best to try and get physical proof your ads ran. Your physical proof is a "tear sheet." Get an actual copy of the advertisement, as it ran in your desired paper. News Paper advertising can be profitable, when done carefully.


Most people think that when it comes to placing a newspaper ad that the basic information is all you need to put in it. The fact of the matter is this in real estate it is a dog eat dog world and you need an ad that will grab a person's attention and shake them till they are ready to do business with you. This article will tell you everything you need to know to write such an ad and make people remember for a long time.


First you need to start with a catchy headline, something that will make a person stop and take notice. Second you will want to entice the reader to read further by including details that make your ad pop from all the others. This is where having a copywriter who knows the ins and outs of effective writing comes into being handy.


After you have done these two steps it is time to tell the reader all about you and your company. Make sure to include details that tell the reader why they should do business with you and your company. Give your reader some background info like how many years you have been in business, and any ties that your business has to the community. The reader needs to feel like you are one of the family and that they can trust you. After all this may be a potential future private investor so establishing this relationship is crucial.


If you follow these simple rules you will create an ad that people will remember and your phone will be ringing off the hook with people who are just eager to do business with you for years to come.

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