Selecting a PMC for Self Redevelopment

By December 19, 2018Blog, Self redevelopment

PMC for Self Redevelopment

Traditionally PMCs were Architect or Engineering firms working for the Societies to gauge their development potential based on the prevalent Government norms. They took one step ahead and started supporting societies in getting Developers on board to fulfil their Development needs.
But now, when it comes to Self Redevelopment, the requirement is far more broader and complex than what used to be done in Traditional Redevelopment.
What Societies need in Self Redevelopment is a management body that not only certifies the work done by different agencies, but also someone who can manage the different professionals involved, the finance arrangement aspects, the quality standards, the government norms, the legalities involved and the sales management. Societies also want the management body while keeping track of all the above aspects to be capable of providing them insights, supporting them in making critical decisions and anticipating the possible risks and providing mitigating options.
The expectations of the societies from PMCs when it comes to Redevelopment led by Developers and the ones for Self Redevelopment are completely different. Since Self Redevelopment is in it’s nascent stage, societies are still figuring out what to expect and what not to expect from the PMCs. And in the confusion, they end up going with PMCs which are equipped with limited capability for this type of Redevelopment. And as time passes, the Societies realise the pitfalls and are again stuck midway.
The new role is fairly complex and will get clearer with times to come.
PMC for Self Redevelopment