Redevelopment
What Is Redevelopment?
Redevelopment offers a powerful solution for housing societies in Mumbai where old buildings are either dilapidated, uninhabitable or lack modern amenities. It is a process of demolishing existing structures and reconstructing buildings into modern, functional spaces. Redevelopment of societies accelerates and empowers them with more space, better amenities, and an improved quality of life.
From Vision to Keys - In Your Control, In Safe Hands
GlobalNet has built a strong legacy in redevelopment and self-redevelopment, assisting housing societies transform their older buildings into modern, safe, and future-ready homes.
GlobalNet as a professional redevelopment management firm, we handle the entire process-from planning and approvals to bank financing, construction monitoring, and RERA compliance-ensuring transparency and confidence at every stage.
Redevelopment
Optimal Space Utilization
Dedicated Parking Space
Enhanced Property Value
Modernized Living Spaces
Upgraded Lifestyle Amenities
Community Revitalization
How Redevelopment Projects Are Financed
In redevelopment projects, the entire financial requirement is arranged by the developer or builder. In the case of self-redevelopment, the complete project finance is obtained from a bank or financial institution, with end-to-end assistance provided by GlobalNet.
The bank finance covers all project-related costs, including construction expenses, professional fees, premium and statutory charges, as well as rent and shifting costs for society members during the redevelopment period. The loan is repaid directly from the proceeds generated through the sale of newly constructed flats.
Complete Redevelopment Support by GlobalNet
GlobalNet supports societies throughout the entire redevelopment process, from pre-redevelopment planning and approvals, to construction supervision, and finally post-redevelopment possession.
GlobalNet assist in arranging bank finance, finalizing contractors, and monitoring construction quality at every stage. In addition, GlobalNet ensures RERA compliance and provides guidance for the sale of flats, making the redevelopment process smooth, transparent, and hassle-free for society members.
Redevelopment Impact
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Redevelopment Phases Overview
FAQs
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 out the redevelopment process.
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
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
Where does the Existing User stay during of the process of 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
How much Rent does a Existing User get in case of Redevelopment ?
The rent is normally equivalent to the rent of the existing accommodation in the area
How are facilities and amenities upgraded?
Redevelopment includes modern housing, improved infrastructure, parks, community spaces, and smart utilities. The focus is on sustainability, safety, and enhanced quality of living for residents.