Redevelopment Process

The process for residents and developers

• Agreement: A housing society's members (at least 51% must consent) enter into an agreement with a developer. 
• Temporary accommodation: The developer arranges for existing residents to live in temporary housing or pays their rent while the new building is under construction. 
• Demolition and construction: The old building is demolished, and the developer builds a new one, often much larger due to increased Floor Space Index (FSI) norms. 
• New apartments: Residents receive larger, modern apartments in the new building, often with a guaranteed minimum of 376.73 sq ft of carpet area in regular projects. 
• Developer's profit: The developer's profit comes from selling the excess square footage in the new building that is not allocated to the original residents. 
• Agreement and plans: A Development Agreement is signed after negotiating commercial terms. 
• MCGM approval: The plans are submitted to the Municipal Corporation of Greater Mumbai (MCGM) for sanction.
• TDR loading: The developer loads Transfer of Development Rights (TDR) in the society's name.
• IOD: An Intimation of Disapproval (IOD) is obtained, which is required to begin construction.
• CC: A Commencement Certificate (CC) is obtained before construction starts.
• OC: Once construction is complete, an Occupancy Certificate (OC) is received, allowing residents to move into the new building.