Indian Express 03.08.2010
Redevelopment lacks push in right direction, says builders’ body
Nisha Nambiar Tags : real estate, developers, corporation Posted: Tue Aug 03 2010, 03:11 hrs
Pune: A rage in Mumbai with the Bombay Municipal Corporation giving additional FSI to builders, Pune is still going slow with such schemes. Confederation of Real Estate Developers Association of India (CREDAI), Pune, head, Satish Magar said, with no incentives being offered to the builders as in Mumbai, developers are not too keen on taking up such projects. “In Pune there are several such buildings which needs redevelopment. However, with no incentives, the builders have to settle with very less profit and generally steer clear of such projects,” he said.Where there has been redevelopment residents seem happy. Take Kapil Vastu Society in Karve Nagar for example, which earlier had just 36 occupants. The new structure with additional TDR gave the builders an opportunity to construct a total of 70 flats in the area which saw the occupants, who got new flats for free, buy additional flats as investment at the present market rate. The residents here are a happy lot today. They gave up their 30-year-old flats for redevelopment and have shifted to their brand new flats. The new eleven storey structure with double parking space has all the modern facilities.
A better home at the same place with no extra cost, is how the builders Darode-Jog promote redevelopment projects in the city. With most of the builders in the city not taking up such projects as there is not much benefit and the municipal body not making any change in the development control rules, residents are yet to take to such schemes in Pune.
Director, Anant Jog, Darode-Jog Properties, who has developed Kapil Vastu and has already taken up two more projects for redevelopment, Varad Vastu, Mayur Colony, Anupam Society, Navi Peth have also initiated a redevelopment cell to address issues pertaining to redevelopment. “Although there is not much benefit for the builders, it is essential to develop old building as the people staying there have several unattended issues.
Having got TDR, the Kapil Vastu Society, which had just two to three buildings has now been turned into two eleven-storey structure with latest amenities. “With the addition of 36 flats we could sell them at market value to make up for our expenses,”said Jog.
Suresh Vadaner, resident of Kapil Vastu Society said that though it a was a tough decision to hand over our house to the builder, the redevelopment cell lived up to our expectations. While another beneficiary Vinayak Jategaonkar, a senior citizen, said they got a feature-rich home. “It makes our children and grand-children come to our home more often”.
Jog said that the cell has received lot of calls and has counselled more than 75 societies in the recent past. “Though we insist that they don’t have to go for redevelopement through us, they can take our free advise and go back to their developers,”he said. The easy steps prescribed by the cell includes—resolution by the society members, feasibility report, confirmation of land titles, feasibility study outcome, society committee, verification of total area, architectural presentations and legal compliance to name a few.
A senior town planner said that Bombay Municipal Corporation (BMC) was proactive and made the amendments as land was becoming scarce and got the extra FSI to go higher which made them take up several dilapidated projects. “The BMC made the necessary changes in the development control rules and it is being implemented,” he said.
While a senior member from the Mantralaya said that it is the duty of the civic body to make the necessary amendments. “ If Bombay Municipal Corporation can do it, so can Pune. Once the amendments are made and the necessary proposal is passed by the GB, then Pune too can have a plan ready for redevelopment especially for the old dilapidated structures,”he said. A civic body member said that presently there are no sops for developers.
