Apartment redevelopment is often a very attractive proposal for owners who have apartments older than 50 years. In many instances, the share of undivided land makes such proposals even more attractive since construction companies in Pondicherry can potentially get more FSI in the redeveloped apartment. Just as other life forms, apartments also suffer aging pangs and older apartments need total demolition and rebuilding so that the occupants can live in peace with better amenities without changing their address and without the fear of a potential catastrophe.
Partnering with the best builders in Pondicherry
In the first place, all the owners in the apartment complex should collectively and severally agree to a redevelopment proposal. Appropriate legal paperwork also may need to be done before partnering with the best builders in Pondicherry to execute the project. Construction companies in Pondicherry engaged for the task will prepare an exhaustive blueprint of the project from demolishing the current building, removing the resulting debris, relocating the current owners, and getting necessary approvals from local government and related agencies. They may also draw up a financial plan outlining how the cost of redevelopment is shared between the current owners and the developer.
Jeno Maran Builders
Jeno Maran Builders brings over 3 decades of experience in the construction industry and they also have a dedicated team of experts who keep themselves informed of all the latest technology and building materials around the world. Most of the apartments you see today across the city of Pondicherry invariably demonstrate the perfection that Jeno Maran brings to every single project.
Benefit for landowners
Apartment redevelopment has multiple benefits for the landowners. The biggest benefit is that they get an all-new apartment with modern amenities and in some instances, even some additional space without breaking the bank. Since the current owners would have paid off any existing loan, the financial commitment is often nil or minimal and the redeveloped apartment will fetch a significantly higher value if the owners put it up for sale.
Benefit for investors/developers
Investors or developers engaging in apartment redevelopment also stand to gain significantly. In most redevelopment projects, the developer gets a better fsi potentially helping them add another floor and even a new block itself in larger projects. Redeveloped apartments command a higher value particularly since most redevelopments are carried out in prime locations. The inelastic character of land in such prime locations ensures exponentially rising value with each passing year.
Conclusion
If you are planning an apartment redevelopment in Pondicherry, speak to Jeno Maran Builders today and you are sure to reap rich benefits.
