Self-Redevelopment without Loan becomes reality in Mulund. Apartment owners with 390sqft homes now have 1015sqft homes. I’m generally skeptical of self-redevelopment. But if the only option is a Tier 3/4 builder, it’s worth it. Better to get screwed yourself than by a builder
@VishalBhargava5 Would be great to know how they 'managed' the system. Who collected the cash and how did they collectively agree on the 'rates'?
@VishalBhargava5 Just curious - what are the reasons for your being skeptical? Thank you!
@VishalBhargava5 Congratulations to society members. I hope Vishal you would be conducting some interviews with the members, committee and others
@VishalBhargava5 What do you think are the risks in self-development?
@VishalBhargava5 Last line sums it up. Better get screwed by yourself than outsourcing it to Builder. You’re screwed regardless. This society members went through nightmare, had to break their personal FDs and Pension accounts. Bank withdrew loan in midway….
@VishalBhargava5 So they had society funds and personal contributions for redevelopment good to hear
@VishalBhargava5 My friend has a house in that society and let me tell you, it hasn't been easy at all but they have managed to do a better job than most builders.