09/05/2019 Benefits of redevelopment, to developers and tenants
Builders/ developers, who opt to purchase land and develop the same, incur huge stamp duty cost, vis-à-vis transfer of the land. However, when it comes to redevelopment of old buildings. the stamp duty is reduced by a significant extent and this acts as a major benefit for developers.
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Tenants too get several benefits like hassle-free execution, extra carpet area, corpus fund, upmarket amenities and hi-tech gadgets such as cctv’s, intercom / video door phone systems, smoke detectors, fire fighting alarm systems, borewell with rain water harvesting system, high end elevators, society office if permissible, earthquake resistant and well planned apartments and alternate accommodation or rent compensation. for the period during which the building is under construction.
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Most importantly, there is a substantial increase in the flat’s value and low maintenance costs post redevelopment. If any of the family,members require additional area in the same redeveloped building, it can be achieved by purchasing it from the developer and hence would enable the family to live in together.
Redeveloped building can with stand with the new climatic and geographic conditions and is constructed with latest safety measures.
Redevelopment in Ahmedabad
“Panchshil Group” began building enduring structures in 1999 from inception; the company followed a qualitative axiom of growth. It believed that if one pursues higher quality, higher quantity will automatically and naturally follow suit. But if one pursues quantity, it may at best lead to growt…