Frequently Asked Questions

Redevelopment is the process of demolishing an old, dilapidated building and constructing a new modern structure in its place. This process provides members with new, larger apartments with modern amenities, while also increasing the overall value of the property. It's particularly relevant for older buildings that may have structural issues or cannot accommodate modern living standards.

The entire redevelopment process typically takes 3-5 years from initial discussions to possession. This includes feasibility studies (2-3 months), approvals (6-12 months), construction (24-36 months), and handover. At Gurukrupa Infraventures, we pride ourselves on timely delivery and keep members informed at every stage.

Key benefits include: new, structurally sound buildings; larger carpet area for members; modern amenities and facilities; increased property value; better safety standards; improved living conditions; additional corpus fund for society maintenance; and potential for extra floor space index (FSI) utilization.

The developer bears the entire construction cost. In return, the developer gets additional built-up area which can be sold in the open market. Members do not have to pay anything for their new apartments. The developer also provides temporary transit accommodation during construction and pays corpus fund to the society.

Carpet area for existing members is decided based on the existing carpet area of their old apartments, usually with a minimum guaranteed increase (typically 20-30% additional area). The exact ratio depends on the feasibility report, FSI available, and agreement between society and developer. All terms are clearly documented in the development agreement.

Multiple approvals are needed including: society resolution (75% member consent), municipal corporation approval, MHADA approval (for MHADA colonies), environmental clearances, fire NOC, structural stability certificate, commencement certificate, and occupation certificate. Gurukrupa Infraventures handles all these approvals on behalf of the society.

During construction, members are provided temporary transit accommodation by the developer. Regular updates are shared through meetings, newsletters, and site visits. A project management team oversees quality and timeline. Members can visit the site at any time. Upon completion, a thorough inspection is conducted before handover.

Yes, when done through proper channels with a reputed developer. All agreements are legally binding and registered. The development agreement clearly outlines rights and obligations of both parties. Gurukrupa Infraventures works with experienced legal advisors including retired IAS officers to ensure complete legal compliance and member protection.

The development agreement includes penalty clauses for delays. Additionally, bank guarantees and performance bonds protect member interests. Gurukrupa Infraventures maintains strong financial backing and has a proven track record of timely delivery. Our transparent approach and regular updates ensure members are always informed about project progress.

Key factors to consider: track record of completed projects, financial stability, technical expertise, legal compliance, transparency in dealings, quality of construction, and member satisfaction. Gurukrupa Infraventures excels in all these areas with 15+ years of experience and a portfolio of successful projects.