Redevelopment of 30 Years Old Buildings

Dear Friends, Good News for all of us to share & create AWARENESS for betterment of our neighbouring hood Brihanmumbai Municipal Corporation (BMC) announced it's plans for 

Redevelopment of 30 yrs old buildings with New Development Control Regulation (DCR)

The Brihanmumbai Municipal Corporation (BMC) has opened its doors for redevelopment of over 35,000 old buildings that have exhausted their FSI and to those who had no scope of further redevelopment.

Now, The BMC has promised & will offer 40 per cent of the total built-up area (BUA) as an incentive to the housing societies. 

A society can use the proceeds from the sale of this incentive to meet the construction cost of their own building.

BMC will not charge any kind of premium or extra cost for the same.

This will only be applicable for buildings which are more than 30 years old.

For example, if the built-up area (BUA) of one particular building is 10,000 sqft, with BMC's new incentive policy, the building will be allowed construction of extra 4,000 sqft so that they can sell it in the open market and meet the construction cost of their original area.

This Development Control Regulation (DCR) of the BMC will also help those buildings which were earlier not interested to be a part of the cluster development scheme (CDS) but might pose a threat to the scheme.

The government's CDS is facing several obstacles at each stage with developers unwilling to share more benefits and residents posing stiff opposition for cluster development. The residents were left with no option but to live in dangerous buildings and wait endlessly until they collapsed with them in it Due to lack of profit, no developer wanted to take up redevelopment of such buildings and it was also expensive for cooperative societies to undertake any redevelopment on their own. 

The new DCR will be paving way for the redevelopment of such individual buildings & we can support them to Effect Proper Economy with our core competence under Self ReDevelopment by CHS Scheme

"BELIEVE Over 35,000 buildings in the city are more than 30 years old and have no FSI left. The future of these buildings was at stake and there was no scope of future redevelopment for them.

These buildings, now if also ignored, will eventually get dilapidated and can amount to loss of life and property. 

We had to think about them and now we have come up with an option," said Ajoy Mehta, municipal commissioner

Actively supporting

SELF ~ REDEVELOPMENT too

UdayPrabhu@Activist.com