Redevelopment Feasibility Report

What is Feasibility Report for Redevelopment?

The redevelopment feasibility report is an evaluation and examination of the potentials of a proposed redevelopment project. Whereas, redevelopment Feasibility report will contain the detailed information about FSI calculation, Various Expenditure and Total Revenue along with gross profit. Further, FSI will cover area under reservation and amenity, Total of built-up area and sell area as well. Whereas, Revenue is based on RERA carpet area and calculated considering market rate. In addition, expenditure covers construction cost, approval cost rent brokerage, corpus fund, and TDR Cost etc. Finally, preparation of consolidated repost as Project Feasibility Report for redevelopment of said Plot.

How is FSI calculated for redevelopment?

The ratio between the total area of the plot and the total area of the building is called Floor Space Index i.t. FSI. Likewise, there are couple of things you need to know while how to calculate FSI for redevelopment

Floor space index = Permissible Built up Area

                                             Plot Area

FSI means the quotient of the ratio of the total permissible built up area to the total plot area. For example, if you possess land that is 1000 square feet in area on which you want to construct a residential or commercial building, you can construct up to 1500 sqft of the covered structure of the plot. In the same vein, the FSI of your locality is 1.5

Documents required for redevelopment feasibility report

The followings documents required while preparing the Redevelopment Feasibility Report

1. Property card
2. City Survey Plan
3. Sanctioned / Approved Plans
4. Road Line Remark
5. D P Remark
6. Inspection Extract
7. Occupation certificate / Completion Certificate
8. Ownership Proof
9. Society registration certificate
10. List of Society owners with flat numbers and carpet areas
11. Title Search Report
12. Structural Report

What Information included in redevelopment feasibility Report?

Redevelopment Feasibility Report contains the Following Information

1. Technical Information like Area of the plot, zone of the plot, Feasibility, Permissible FSI and TDR Etc.
2. Financial Feasibility of the redevelopment proposal like Cost of Construction, cost towards TDR, expenses of building Planning permission – all fees, Premiums, development charges, water charges, Legal charges, cost incurred towards temporary accommodations, total income generated, Gross profits to the developers etc.
3. Benefits of Redevelopment Proposal like monetary benefits, modern living style buildings, modern amenities, other recreational facility and many others
4. Drawbacks of Redevelopment Proposal like, shifting and temporary accommodation, increase in maintenance charges, increase in number of members etc.

Why redevelopment is required

Redevelopment is important aspect for society, the following are key points shows that redevelopment is important aspect as follows

1. Whether the society building s dilapidated or requires extensive structural repairs
2. To get the enough parking spaces for society premises
3. To get enough Play Area for Children
4. To get the lifts
5. Sometimes in heavy society plot submerges with flooding water
6. To get the Maximum flat area for growing family
7. Get the modern facilities like – Children play area and gardens, wide staircase, security camera phone, flower bed, firefighting system, fitness centre

How much does a feasibility report cost for redevelopment?

Generally, it charges Rs. 25000/-  or more for redevelopment feasibility Report, depends upon the area of the plot or members in the society

Time required to the redevelopment feasibility report

Well, it takes up to 7 to 15 days to prepare the Redevelopment Feasibility Report.