Concessions Offered By Maharashtra State Government To Encourage Self-Redevelopment In Old Housing Societies

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Pune, 28th April 2023: After decades of struggling with dishonest developers and poor quality construction, society owners in Pune are embracing self-redevelopment with the support of the state government.

The option, which was made available in 2019, allows society members to come together and redevelop their own properties, dividing the profits among themselves. Two societies in the Sahakarnagar and Kothrud areas have already successfully undertaken self-redevelopment, and other societies are expected to follow suit.

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One of the key benefits of self-redevelopment is the ability to customize the building elevation, which can help attract buyers and reduce construction costs. Additionally, societies can choose a renowned architect or builder to oversee the project and appoint a project management consultant to ensure that the work is completed on time.

There are also several concessions offered by the state government to incentivize self-redevelopment, including a 30% incentive FSI for old societies and a discount on premium charges.

To be eligible for self-redevelopment, societies must be over thirty years old and willing to navigate the bureaucratic process of submitting documents and obtaining approval for construction plans. However, many society owners believe that the benefits of self-redevelopment outweigh the challenges, especially when compared to the risks of working with dishonest developers.

The state government has also implemented special provisions for redevelopment societies in the Unified Development Control and Promotion Regulations (UDCPR), which was introduced in December 2020. These provisions ensure that society owners are able to use any remaining TDR when redeveloping an old building that was constructed using TDR, and that members are provided with at least 300 square foot flats during the redevelopment of societies with smaller units.

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