Plan of action

Documents to the developer As per the guidelines laid down by the Govt. of Maharashtra, the society to be redeveloped needs to produce the following documents:

Members existing carpet area statement duly certified by the society CTS plan survey plan.

PR card of the property, Conveyance deed, Sample agreement of the apartment owners.

Copy of approved municipal plans.

Redevelopment stages The following steps are followed in the redevelopment process:

	MEETING AND APPROVAL The committee calls for an extraordinary general meeting and finalizes their decision to appoint a developer to redevelop the society. The consent of all the members is obtained. We will guide the society members through the legal procedure, rule and regulation for meeting and appointing us.
	Memorandum of understanding The society members enter into an MOU with the developer regarding the term and conditions that the members have agreed to in the general body resolution. This document is like a letter of intent, which both parties commit to, until further terms and conditions are spelled out in the development agreement.
	Title verification The lawyer appointed by the society shall provide title clearance, following which the developer legal term scrutinizes and approves it.
	Executing the development agreement The developer submits the initial draft copy of the development agreement to the society, after which the society members and developer, along with their advocates, have a meeting for initial discussions and both sides define their terms and conditions. The developer then prepares a final copy based on terms and condition agreed mutually between society and developer. The society tables the draft in EGM and takes 100% consent of all members. Once the members approve, the developer then sends the approved copy for adjudication (settlement) of stamp duty. After paying the stamp duty, the developer informs the members that the documents have been stamped, and fixes up a time to carry out the next step, i.e. executing the documents.
	Executing the agreement at Sub-Registrar’s office In an extraordinary general meeting, the development agreement and power of attorney are signed by those who are authorized to execute them. Then, these documents are executed in the presence of the developer of the developer and all the society members at the sub-Registrar’s office. A photograph of the authorized members is required at this time.
	Submission of plans The developer, along with the architect, presents at least two options of new apartment plans to the members, one of which is approved in an extraordinary general meeting. Once the plans are finalized, the developer sends them with copies of the individual agreements.
	Agreement with individual members The developer enters into an agreement with all individual tenants in which all the typical apartment plans will be enclosed. At this point, it is advisable that the society members allot apartments before they shift to their temporary accommodation, so that same can be incorporated in the agreement.
	Receipt of IOD Simultaneously, the developer obtains an IOD. The developer intimates the members to handover possession of the premises within the time period agreed in the development agreement.
	Shifting into temporary accommodation As per the agreement, the rent cheques are issued to the society member after each and every member vacates their flat, and vacant and peaceful possession of the whole building is given to the developer, & then the existing members shift into their temporary accommodations.
	Demolition and reconstruction Once the members hand over the possession of the apartments to the developer, the next step, the old building is demolished and construction of the new building starts.
	Possession of new apartments Once the new building is complete, the members are intimated that they should take possession of their new time accommodation within the time period as agreed in the development agreement.
	Completion and handover Once all members and sale wing owners take possession, the developer hands over possession of all land and building back to the society.