Self-Redevelopment Specialists

What is Self-Redevelopment?

Self-Redevelopment is a redevelopment model in which the Co-operative Housing Society itself becomes the Developer instead of appointing a builder.

The society appoints professional experts such as a Development Management (DM) company to execute the project while retaining complete ownership, control, and the majority of the financial benefits.

• Society owns the project.
• Professionals execute the project.
• Society retains the profit.
• Complete Ownership — Society remains the owner and developer at every stage.
• Maximum Financial Benefits — Higher savings and profits stay with the society.
• Transparent & Accountable — Every decision and expense with complete transparency.
• Quality Development — Professional execution ensures superior quality & value.

Objectives of Self-Redevelopment

A smarter way to build a better future for every member

• Maximize Redevelopment Profits for Society Members — Retain the maximum profits from the redevelopment for the benefit of all society members.
• Retain Complete Ownership and Decision-Making Authority — The society remains the owner and takes all major decisions throughout the project.
• Ensure Transparency Throughout the Project — Maintain complete transparency in planning, finances, execution and communication.
• Achieve Better Construction Quality — Ensure superior construction standards through professional planning and strict quality control.
• Optimize Project Costs — Reduce unnecessary costs through efficient planning, competitive tendering and effective management.
• Deliver Modern Amenities — Provide world-class amenities and modern infrastructure for a comfortable lifestyle.
• Increase Long-Term Property Value — Enhance the long-term value of the property for future generations.

Self-Redevelopment vs Builder Redevelopment

• Strong and united society members
• Clear property title and documentation
• Experienced Development Management partner
• Transparent governance
• Professional financial planning
• Competent legal advisors
• Reliable contractors
• Continuous communication with members

Complete Self-Redevelopment Process

From concept to creation, we build better tomorrows

• Feasibility Study — Plot assessment, FSI potential, Development potential, Cost estimation, Revenue projection, Risk analysis
• Society Resolution — General Body Meeting, Appointment of consultants, Appointment of Development Manager, Appointment of legal advisor
• Project Planning — Survey, Soil investigation, Architectural planning, Financial planning, Cash flow planning
• Government Approvals — Planning authority approval, Fire NOC, Environmental clearance (where applicable), Utility permissions, Commencement Certificate (CC)
• Funding Strategy — Funding may come from: Bank finance, Project loans, Institutional investors, Sale of free sale component, Internal society funds (if applicable)
• Contractor Selection — Selection through transparent tendering based on: Technical capability, Financial strength, Experience, Quality record, Safety record, Delivery track record
• Construction — Excavation, Foundation, RCC structure, Masonry, MEP services, Finishing, Amenities, Landscaping
• Sales & Revenue — Society earns through: Sale flats, Commercial premises, Parking sales, Advertisement rights, Premium amenities, Other development rights
• Completion — Occupation Certificate (OC), Handover, Formation of new society records, Asset management

Why SK Realty

Society-Centric Self-Redevelopment Specialists

SK Realty is the first choice of Co-operative Housing Societies for Self-Redevelopment.

At SK Realty, we understand the aspirations, responsibilities, and long-term interests of every Co-operative Housing Society.

Our greatest pride is not simply being recognized as Mumbai’s No. 1 Self-Redevelopment Specialist.

Our true achievement lies in the unwavering belief, confidence, and trust that housing societies have placed in us.

Every relationship we build and every project we undertake reflects our commitment to complete transparency, professional excellence, and a truly Society-Centric Development Management approach — where societies retain control, ownership, and the maximum benefits of redevelopment.

• We are For the Society.
• We are By the Society.
• We work With the Society.

How SK Realty Can Add Value

For a society-centric Development Management approach, SK Realty can support:

• Feasibility and redevelopment potential assessment
• Financial modeling and project viability
• Regulatory approvals and coordination
• Consultant and contractor selection
• Project planning, execution, and monitoring
• Quality control and reporting
• Sales and marketing of the free-sale component
• End-to-end project management with a focus on maximizing benefits for the society

Frequently Asked Questions

How much extra carpet area will each member get?

It depends on the feasibility of the project, but it is certain that members get more extra area than what is offered by a developer.

How much corpus fund will members get?

As the society itself is the developer, the entire profit is enjoyed by the society members.

When does the bank sanction the loan?

The bank will sanction the loan on 1 FSI IOD/IOA.

How much loan is given by the bank, and at what rate of interest?

The bank sanctions about 90% loan on the project cost at 10.5% p.a.

What is included in the project cost?

The project cost is the total cost required to complete the Self-Redevelopment project successfully. It includes construction cost, professional fees, premium cost, TDR cost, MCGM charges, rent to members, shifting charges, and site and miscellaneous costs related to the project.

What collateral security does the society have to give the bank?

The bank gives the loan on the mortgage of the society’s land and a lien on the proposed sale flats. The society or its members do not have to give any collateral security other than this.

How will the society repay the loan?

The society will repay the loan by selling the additional flats in the project.

Do the flats of any society member get mortgaged?

There will be no mortgage on the flats of any existing members.

Does an individual member have to give a personal guarantee?

There will be no personal guarantee from any individual member.

Will the project be insured?

The project will have full construction insurance.

What will be the loan period?

The loan period will be 7 years for loans up to ₹50 crore.

How long is the moratorium period?

The moratorium period is 2 years for loans up to ₹50 crore.

Will the society managing committee be held responsible for any decision?

The society managing committee will not be held responsible, as it works only as per the resolutions passed by the General Body.

What will happen if the project is delayed?

Delays happen due to financial or approval problems. In Self-Redevelopment, SK Realty ensures that all approvals are in place and the loan is approved by the bank before flats are vacated, so there is no cause for delays.

How will project payments be released?

Payments will be released as per the requirement of the project and approval from the bank.

If members would like to buy extra area, what will it cost?

Existing members can purchase extra area at the rates decided by the committee.

What is the benefit to the society of having all professionals under one roof?

The society has to keep only one point of contact. If the society appoints an agency with all professionals under one roof, the responsibility for the work rests with only one company.

Do we have to pay stamp duty on a development agreement?

There is no development agreement, as the society members are the owners and no transfer of rights takes place; hence, stamp duty is not required to be paid.