Comparison between Developer Led Redevelopment, Self Redevelopment & Wedevelopment
While all the approaches lead to the same domain of work, the way in which each one gets executed and the impacts are very varied. There are some stark differences in the approaches which are listed below in a simplistic manner.
Extra space for each menber
Corpus for members
Profit from project
Control of the project
Quality of the project
Designs and Plans
Design as per members needs
Fund Management
Funds alloted for rent
Expertise for the entire project
Timely completion of project
Funds for the project
Dealing with Municipal and other authorities
Knowledge about the entire process
Managing the entire program and all the experts/ agencies
Risk Management
Builder Led
Redevelopment
Less
Availible
Availible for developer
With the developer
Dependant on the developer
In the name of the developer
Has the authority to change designs without society consent
Developers Control
Confidential
PDCs for only 6 to 12 months or monhtly cheques
Has the experience in-house and or works with his networks
Can be delayed
Developer put his own money/ gets investments
Has experience in dealing with the authorities
Has the requisite know-how
Has the requisite management capability
In favour of developer
Self
Redevelopment
High
Availible
Availible for society members
With the society
Dependant of the society and their ability to manage the deliverables from the agencies
In the name of the society
Designs made as per member's needs
Society's control
Transparent
Society's Control
Empannels different experts/ agencies required across the project timeline through known networks or tendereing
Society's ability to manage different resources and the entire program
Society generates money through self-funding or loans from financial institutions
Dependant on outsourced agency or do it by self
?
Maybe availible in the society Or dependant on extrenal experts/ agencies
Society's ability to see the different risks, prioritize them and take timely appropriate decisions
Wedevelopment
High
Availible
Availible for society members. Wedevelopment strives for increasing surplus through effective program management
With the society. A systematic process which helps the society in objective decesion making across different stages of the project
Defined quality management systemand program management aligned with set standards and the expectations of society menebers
In the name of the society
Designs made as per member's needs
Society's control
Tranparent
Society's control
Has 26 types of different experts/ agencies empanneld through a standardised assesment process
Assured timely completion of project
Capability of availing required funds for the program
Has an understanding of requirements of different authorities and the agencies that can deliver the requisite
100% of the funds arranged and deposited in society's account
Has the required management capability
Risk mitigation strategies and process in favor of society members to ensure that program completes within the projected timline with the project benefits for the society