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August 2018

Disadvantages of Self Redevelopment

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Top 5 Disadvantages of Self Redevelopment

While societies are suddenly eyeing for self redevelopment with a view to the benefits available, they need to also be cautious to get into this zone, as this approach is not as easy as it seems. The following are top disadvantages which stops societies from moving ahead with self redevelopment:

1.    Competence

Having know-how of the entire process, the nitty gritty about construction and norms is a critical requirement for the project. If not available in-house, this can create a major deterrent  while managing multiple experts and professionals.

2.    Decision Making

Getting consensus amongst members at various stages becomes challenging as the number, frequency and level of technicality of the decisions is pretty high. And any delay in such decisions can instantly impact the time factor of the project which in turn impacts the project cost.

3.    Ability to Sell

The biggest factor where societies have a fear in moving ahead with self redevelopment is the sale of flats as it directly links to the mortgage. Selling the flats at the right time and at the right price is important for the recovery of project cost which in turn impacts the mortgage. Even after sale of flats, keeping tab of the recovery is important to avoid the impact on the cash flows.

4.    Management Capability

Doing right things at the right time, sorting and managing different resources and their requirements, while coordinating between different professionals, agencies, suppliers and their deliverables. Managing is a different game altogether. While getting people with the know-how of the process is possible, the right management capability can push the project on either side of the scale.

5.    Availing Finance

Finance is the oxygen for the project, and at any point of time if not available can stall the project and create major hassles for the stakeholders involved. While some agencies are there to support the project partly, creating the right coalition amongst such agencies is also crucial for the smooth flow of the project.

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Every problem is unique, and requires an all-round perspective to arrive at the best-fit Solution
Being a leader in the Self-Redevelopment space brings its own sets of responsibilities, of creating the right path and helping others in moving in the right direction.
Troubleshooter, is an initiative by Wedevelopment to guide Societies who are willing to opt for self redevelopment or already have initiated the journey of Self Redevelopment but have hit a wall in the process.
It is a One to One Consulting platform for Co-operative Societies to get the right answers.

The above Consulting is for the following Category of Societies/Challenges:

The Team of TroubleShooters:
Wedevelopment along with the following Industry experts are coming together to help you:

The Cost:
This Consulting Session is FREE for the Societies registering before 10th July 2020.

Please note:
In order to organise the session with the right expert and value time of the session, Society is requested to send a note with the following info:

"If you have knowledge, let others light their candles in it" - Margaret Fuller

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