What is Building Redevelopment?
It is a process of demolition of the existing structure and building a new one. Most of the buildings in the inner parts of the cities have been designed and developed more than three decades ago. Most of them are low rise buildings and doesn’t have enough space to accommodate the increasing population. Most of them have outlived their constructional life span. Such building has to be razed down and building a new one in its place is building redevelopment.
Why Redevelopment of Buildings?
- To improve the FSI. By going for redevelopment many residents have increased their spaces.
- To improve the building quality to increase its life span.
- Commercial spaces can be added in the new buildings so that it can augment the resources of the residential association which can improve the services of the association as well.
- It can bring in dedicated car parking for each and every home built.
- It can improve the disaster resilience of the building. Either in floods or in storms new buildings has more resilience to stand against disasters.
- Rainwater harvesting can be done scientifically in the redeveloped buildings. What will be the value of the asset when it goes without water? Redeveloped buildings has more ways to conserve water usage and collect the rain water store them in separate tanks for future use or recharge them in the bore wells to improve the salinity and availability of water.
- Modern sewerage system can be incorporated.
- Redeveloped buildings will be designed better and will be more structurally sound than the old buildings.
- Modern buildings can be more aesthetically designed to reduce energy usage. Utilization of solar systems and designing to increase natural lighting can reduce energy usage.
- Old buildings lack safety norms. New safety norms can be incorporated in the redeveloped building which can make a profound difference at the time of disaster.
- Interiors can be designed aesthetically according to most recent trends.
- Dedicated green spaces can be built around the buildings. Dedicated spaces can be given for senior citizens, children etc. Better utilization of common areas.
- Redevelopment will amplify the value of the asset.