Turn Your Old Home into a Shiny New One: Easy Guide for NRIs and Indians Living Here – Redevelopment of Property Made Simple
Hey, imagine your family’s old flat in Mumbai. The walls look tired, rain leaks in every monsoon, and society meetings never end. You love the memories, but you know it’s time for a big change. Guess what? You’re not alone! Thousands of people like you, whether you live in India or abroad as an NRI are opting for redevelopment of property. This process transforms a rundown building into a safe, modern home that’s worth way more money. Let’s walk through it step by step, like friends chatting over chai. We’ll keep it simple, fun, and full of real tips about redevelopment of property!
Why Opt for Redevelopment of Property Right Now? It’s About Safety and Extra Cash!
Cities like Mumbai and Pune have tons of old buildings. They cost a lot to fix small cracks, and sometimes they aren’t safe. Redevelopment of property knocks down the old building and builds a brand-new, taller one. Why? Because rules now let you use more space on the same land (called higher FSI). That means bigger flats, more value, and happy families!
But here’s the catch many old homes have “oops” parts, like an extra balcony or room built without permission. These are illegal additions. They make it hard to sell, get a loan, or insure your home. Worse, they might not be strong enough. Don’t worry these issues can be sorted before starting redevelopment of property.
Ask yourself: Does your home feel safe and peaceful? If not, it’s time to make it awesome with redevelopment of property!
Steps for redevelopment of property
1: Make the Old Stuff Legal (We Call This Regularisation)
Before you dream of a new building, clean up any illegal bits. Regularisation means you tell the local office (like BMC in Mumbai), pay a fine, and get official okay. It’s like saying sorry and fixing a mistake.
Here’s what to do for common problems:
- Extra rooms or floors without permission? File papers and pay the fee. Boom legal!
- Changed the layout from the original plan? Apply for a certificate to fix it.
- Plot divided wrong or not approved? Join a special scheme to make it right.
- Neighbor built into your space? Complain to the local office they’ll handle it.
Super important: Courts say big illegal stuff might get knocked down. Only small home fixes usually get regularised. Talk to a lawyer to check yours. Once it’s legal, you’re ready for the fun part!
2: Plan the New Dream Building Smartly
Your old home is now squeaky clean legally. Time to plan the rebuild!
- Follow RERA Rules Your Superhero Shield
RERA is a law that keeps builders honest. It’s a must for big projects.
- Builders register the project if they sell extra flats.
- They keep money safe in a special account.
- They promise finish dates no endless waits!
- Get Everyone in Your Society to Agree
If you’re in a housing society (super common in Mumbai):
- Hire a pro helper (PMC). They check the old building, calculate how much new space you can get, and list goodies like bigger flats, extra money (corpus fund), and rent while you move out.
- Vote yes! At least 51% of members must agree in a big meeting. Be open and fair.
- Bring in experts early. A lawyer, architect, and PMC work for you, not the builder.
- Pick the Best Builder Like Choosing a Teammate
Don’t just grab the first offer. Do it right:
- Send out a public invite for builders to bid.
- Check their past work, money strength, and what they promise. Don’t pick just for the biggest cash go for quality and keeping promises.
- Write everything in the agreement: Your new flat details, cash, rent during build, timeline, and big fines if they’re late.
3: Build It and Move Back In Safely!
Sign the deal, builder gets permits, and work starts.
- Move out for a bit. Builder pays your rent or gives a temp home.
- Watch like a hawk. Your PMC checks every step no sneaky changes!
- Get the final okay (Occupation Certificate or OC). This paper says the building is safe and done. Never move in without it!
Ta-da! You hand over keys to shiny new flats. Your home is now safer, legal, and worth a ton more.
Cool New Rules and Tips for NRIs
Governments are making it easier:
- Faster approvals so projects don’t drag.
- More space allowed, especially for old MHADA buildings.
- Societies can even do it themselves and keep all the profit!
NRIs, you’ve got this from anywhere!
- Give Power of Attorney (PoA) to a trusted person in India they vote and sign for you.
- Use your NRE bank for fees or investments.
- Check everything online with RERA no need to fly back.
FAQs
Q: Can NRIs start redevelopment of property from abroad?
A: Yes! NRIs have full rights. You can give a Power of Attorney (PoA) to a trusted local buddy to handle meetings, paperwork, and approvals.
Q: How many yes votes are needed in the society for redevelopment of property?
A: In Maharashtra, 51% approval in a special society meeting is required to go ahead with redevelopment.
Q: How does RERA help NRIs during redevelopment of property?
A: RERA makes everything transparent online project timelines, fund usage, and approvals. It reduces worries about fraud or mismanagement.
Q: What’s the difference between redevelopment and regularisation?
A: Regularisation fixes old illegal parts of a building with a fine, while redevelopment of property tears down the old structure and builds a fresh, modern one.
Q: How much does it cost to add extra floors or fix old issues for NRIs?
A: Costs depend on the city, size, and local rules. Always get a professional to check guessing can be expensive!
Conclusion
Redevelopment isn’t just bricks it’s about safe homes, clear laws, and growing your money. Whether solo or in a society, plan with pros and stay legal. Turn that old headache into a proud, valuable gem. You’ve got the power go make it happen!
About lawcrust Realty
At LawCrust Realty, we stand apart as a premium real estate consulting partner for NRIs worldwide, offering end-to-end solutions in Property Management, Property Regularisation, Construction & Redevelopment, and Project Management Consulting.
Rooted in a legacy of legal and hybrid consulting, we understand the unique challenges NRIs face in managing and safeguarding Indian assets. Our mission is to bridge these gaps through compliance-driven execution, strategic foresight, and client-first innovation.
Whether it’s managing NRI-held properties, transforming long-pending assets into legally regularised holdings, or delivering turnkey redevelopment solutions LawCrust Realty combines authority with accessibility.
By choosing us, you don’t just solve property challenges from overseas you future-proof your assets with one of India’s most trusted and forward-thinking realty partners.
Contact LawCrust Today
- Call Now: +91 8450968472
- Email: inquiry@lawcrustrealty.com
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