FAQs
Re-Development & Self- Redevelopment Queries
1. What is Redevelopment & Self-Redevelopment?
In Case Of Redevelopment -
Redevelopment is the process demolishing the existing building and erecting a new building with modern amenities. In this process the Owner / Society of the Land appoints a Developer / Builder to carry.
In Case Of Self-Redevelopment -
- Self-redevelopment is also the process of demolishing the existing building and erecting a new building with modern amenities.
- In this process the society has total control and appoints a professional management who manages the entire process and works under the control of the society
- GlobalNet is a professional firm takes up the shoulders the entire responsibility of redevelopment working under the control of the society.
2. How does the Existing User benefit from Redevelopment & Self-Redevelopment?
In Case Of Redevelopment -
Existing User’s get a bigger area, rent during the construction and also a corpus from the developer/builder.
In Case Of Self-Redevelopment -
Existing Users get a much larger area , rent as decided amongst members and shared profit from the sale of additional flats built.
3. How much extra Area does an Existing User get in case of Redevelopment and Self-Redevelopment?
In Case Of Redevelopment -
The additional area depends on building to building and gets negotiated by the society with the developer.
In Case Of Self-Redevelopment -
The additional area depends on the additional FSI i.e. the extra area being built and a collective decision is taken so as to distribute it amongst the members after neutralizing the cost of construction.
4. Where does the Existing User stay during of the process of Re-Development and Self Redevelopment?
In Case Of Redevelopment -
A existing user can stay on rent or in case he has a alternative accommodation he can stay there and still get the rent.
In Case Of Self-Redevelopment -
A existing user can stay on rent or in case he has a alternative accommodation he can stay there and still get the rent.
5. How much Rent does an Existing User get in case of Redevelopment and Self Redevelopment?
In Case Of Redevelopment -
The rent is normally equivalent to the rent of the existing accommodation in the area.
In Case Of Self-Redevelopment -
The decision of rent is taken amongst the members so that each member can avail a rental equivalent flat in the area.
6. How much Corpus does an Existing Member get in case of Redevelopment and Self Redevelopment?
In Case Of Redevelopment -
The corpus depends on building to building and gets negotiated by the society with the developer.
In Case Of Self-Redevelopment -
The corpus depends on the profit made through sale of flats after neutralizing the cost of construction.
7. Does the Government give any additional benefits in case of Self Redevelopment?
The Government encourages societies to go for self redevelopment and offers certain incentives along with expediting approvals of such projects.
Financial Queries
1. How is the Finance arranged in case of Redevelopment and in case of Self Redevelopment?
In Case Of Redevelopment -
The Developer / Builder has to arrange for the entire amount required for Redevelopment
In Case Of Self-Redevelopment -
- The Finance is arranged from a Bank / Financial Institution for the Redevelopment for the entire project.
- The assistance to arrange finance from the bank / financial institution is made by GlobalNet Asset Management.
2. Does the bank finance/ finance from financial institution take care of the entire project in case of Self Redevelopment?
The bank finance / finance from financial institute takes care of the construction cost , Professional fees, Premium cost and the entire cost.
3. Does the bank finance / finance from financial institution take care of rent and shifting cost required by the society members?
Yes the bank finance / finance from financial institute takes care of the rent and shifting cost of the society members.
4.How does the bank finance / finance from financial institution get repaid?
The bank finance / finance from financial institute gets repaid directly from the sale of the sale flats constructed.
GlobalNet Services related Queries
1. What are the services of GlobalNet Asset Management?
- GlobalNet support the society in the entire process of Redevelopment i.e. Pre-Redevelopment – Assessment, Planning & Approvals (Before Vacating of Premises) , Redevelopment (during Construction) and Post-Redevelopment (Coming back Home).
- Liaison for Finance from Bank / Financial Institution and finalization of bank terms and conditions
- Inspection of the entire construction process
2. Does GlobalNet do the Construction?
- NO –GlobalNet does not involve itself in the construction.
- GlobalNet makes a detail specification of construction and supports the Society to finalise a contractor. GlobalNet inspects each step of the construction to ensure quality of the project for the benefit of the society.
3. Why Does GlobalNet not do the construction?
GlobalNet does not involve directly into construction as we at GlobalNet believe that we have to concentrate on inspection of each step of construction to ensure quality of construction.
4. Does GlobalNet take care of the entire responsibility other than Construction?
Yes : The entire process of redevelopment is handled by GlobalNet and only the construction is done by a contractor which is finalized by the Society.
5. Does GlobalNet assist the society is Sale of flats?
- Yes – GlobalNet supports the society for RERA compliance.
- GlobalNet supports the society for sale of the flats / premises with all the RERA.
Re-Development & Self- Redevelopment Queries
1. What is Redevelopment?
Redevelopment is the process demolishing the existing building and erecting a new building with modern amenities. In this process the Owner / Society of the Land appoints a Developer / Builder to carry
2. How does the Existing User benefit from Redevelopment?
Existing User’s get a bigger area, rent during the construction and also a corpus from the developer/builder
3. How much extra Area does a Existing User get in case of Redevelopment?
The additional area depends on building to building and gets negotiated by the society with the developer
4. Where does the Existing User stay during of the process of Re-Development?
The rent is normally equivalent to the rent of the existing accommodation in the area
5. How much Corpus does a Existing Member get in case of Redevelopment?
The corpus depends on building to building and gets negotiated by the society with the developer
6. How much Corpus does a Existing Member get in case of Redevelopment?
The corpus depends on building to building and gets negotiated by the society with the developer
7. Does the Government give any additional benefits in case of Self Redevelopment?
The Government encourages societies to go for self redevelopment and offers certain incentives along with expediting approvals of such projects
1. What is Self-Redevelopment?
- Self-redevelopment is also the process of demolishing the existing building and erecting a new building with modern amenities.
- In this process the society has total control and appoints a professional management who manages the entire process and works under the control of the society
- GlobalNet is a professional firm takes up the shoulders the entire responsibility of redevelopment working under the control of the society.
2. How Does the Existing User benefit from Self –Redevelopment?
Existing Users get a much larger area , rent as decided amongst members and shared profit from the sale of additional flats built
3. How much extra area does a Existing User get in case of Self - Redevelopment?
The additional area depends on the additional FSI i.e. the extra area being built and a collective decision is taken so as to distribute it amongst the members after neutralizing the cost of construction.
4. Where does the Existing User stay during of the process of Self Re-Development?
A existing user can stay on rent or in case he has a alternative accommodation he can stay there and still get the rent
5. How much rent does a Existing User get in case of Self Redevelopment?
The decision of rent is taken amongst the members so that each member can avail a rental equivalent flat in the area.
6. How much Corpus does a Existing Member get in case of Redevelopment?
The corpus depends on the profit made through sale of flats after neutralizing the cost of construction.
1. What is redevelopment?
Redevelopment is the process of reconstructing an old, dilapidated building into a new, safe, and modern structure with improved amenities and infrastructure.
2. What is Self-Redevelopment?
Self-Redevelopment is a model where the housing society redevelops its property on its own without appointing a builder, while professionals like GlobalNet manage the entire process.
3. Is my building eligible for redevelopment?
Yes. Old, structurally weak, or maintenance-heavy residential buildings and multi-storeyed buildings are generally eligible for redevelopment, subject to feasibility and approvals.
4. What are the benefits of redevelopment?
Redevelopment offers larger homes, modern amenities, better safety, organized parking, improved infrastructure, and significant appreciation in property value.
5. Why choose Self-Redevelopment over builder redevelopment?
In Self-Redevelopment, all benefits such as additional area, profit, and asset appreciation remain with the society members instead of being shared with a developer.
6. Is Self-Redevelopment safe financially?
Yes. With bank-sanctioned funding and structured financial planning, Self-Redevelopment ensures fund availability and financial transparency throughout the project.
7. What role does GlobalNet Asset Management play?
GlobalNet acts as an end-to-end redevelopment consultant, managing feasibility, approvals, finance, design, construction monitoring, legal compliance, and post-redevelopment support.
8. Will we get rent during the redevelopment period?
Yes. Rent arrangements are made during the construction phase to support members until possession of their new homes.
9. How long does the redevelopment process take?
The duration depends on project size and approvals, but typically redevelopment takes 24 to 36 months from planning to possession.
10. Who monitors construction quality?
GlobalNet monitors construction quality through regular inspections, material checks, and compliance with technical and contractual standards.