What is "Protected Development" in Redevelopnent of Hsg. Soc. Building in Mumbai.
What is the purpise and How it is calculated.
RERA Rules for Redevelopment:
For properties that are considering redevelopment, the following steps need to be followed:
- A letter of offer must be made to the community
- Agreements must be signed between the parties and the society
- Compatibility with the society must be ensured
- MCGM sanctions must be in society’s favour
- TDR must be updated in the name of the society
- An IOD must be obtained
- Members’ substitutions must be noted
Once these steps are completed, the following actions take place:
- Deconstruction of the structure
- Acquiring a CC
- Building the new structure
- Getting an OC
- Changing the existing members
