Redevelopment

GLEN FERNANDES (Querist) 11 September 2012 This query is : Resolved
Hello Sir, I am from Malad w, Mumbai.My society consists of 107 members and we are in a process of Redevelopment.We have completed till the stage of appointment of a PMC, all done as per Guidelines 79A.What are the advantages and disadvantages of a Joint Venture in redevelopment our society?Are Joint Venture and self development are same?

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ABHIJEET PARIKH (Expert) 11 September 2012
Kindly clarify whether JV is between the Builders and JV's are different from self development

Following the compliance of Sec 79A will ensure that society and developer have duly complied with rules but at same time developer/builder crediblity checks are needed to be ensured

ajay sethi (Expert) 11 September 2012
contact a local lawyer .it is advisable to float a tender and invite applications from reputed builders . enter into redevelopment agreement with builder . take bank gurantee and safeguard your interests . dont enter into any joint venture

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