Province Pmc LLP. Manages the project by application of our knowledge, skills and expertise. Our Project Management Services are most effective and efficient when we are involved in the total life cycle of the project from conception to closeout. At every stage of project cycle, the principles of pro-activeness and creating the win-win situation are necessary keeping in mind the customer / client’s requirements.
Self-Redevelopment is a DIY style of redevelopment of housing society where the society members take up the onus of redevelopment of their society in their own hands. The society members manage raisings funds required for the project, manage the entire expense of various professionals involved during the project, manage the sales of the extra units developed in the premises along with the legal documentation required by various government authorities.
Redevelopment is the process of demolishing existing old society building and reconstructing it by appointing a builder who can construct and handover the flats to the society members with some additional area, amenities and corpus and make a profit by utilizing balance plot potential by constructing additional flats and shops as per approval from the Municipal Corporation of Greater Mumbai (M. C. G. M.)
There are 16,000 buildings in Mumbai which are dilapidated and in need of repair or reconstruction. Out of which 443 buildings need urgent repair. There are around 8 lakh persons living in these buildings across mumbai
These buildings lack modern amenities such as swimming pool and gym
The Members face parking woes because of insufficient parking
The buildings have not used up the complete F.S.I. potential available to them under DCPR 2034
The Members complain about leakage problems, sanitation, cracks in the plaster and structural problems.
The building must either go in for repairs or explore options for redevelopment
The managing committee should convene a special meeting of the Members to discuss the redevelopment of the building
The Society Members appoint a 3 member Committee for redevelopment
The Committee needs to get the conveyance and documentation work with the help of lawyers
The Society needs to appoint a PMC to help them explore their options
The committee has an option to go for conventional Redevelopment or Self - Redevelopment
The PMC needs to prepare a feasibility report considering the F.S.I and T.D.R
Province PMC LLP. is a Project Management Consultancy that specializes in Self - Redevelopment projects
Province PMC LLP. suggests a suitable Development Manager (D.M.) with a strong team of consultants, financial advisors, lawyers, contractors and vendors
The needs of the Members such as configuration of the flats, amenities, parking, percentage of additional area, corpus and rent, duration of the project, sales and terms of payment for the services are discussed
The D.M. provides some capital for the project for the documentation and clearances.
The D.M. with the help of his team works on a layout plan as per the feasibility report
The needs of the Members are addressed in the proposal
A detailed cost report is presented to the Society Members for their approval
Once 100% of the Society Members approve the proposal, the P.M.C approaches Mumbai District Central Co-operative Bank on behalf of the Society for a loan
Mumbai District Central Co-operative Bank goes through the feasibility report and the proposal for Self - Redevelopment
A Representative from the bank visits the site for inspection. The Society Members need to furnish their tax returns of 3 years.
The loan for constructing the new building is granted against the Society plot at 8.5%* Interest rate.
The bank offers upto 90%* of the project cost as a loan. The moratorium period for which is 2 years.
Once the necessary clearances are granted by the B.M.C., the old building is demolished
The D.M. hires a demolition contractor to carry out the demolition and dispose off the debris generated
The Members are relocated to new homes in the vicinity on rental basis for a duration of 2 years
The D.M. Pre-launches the project to investors and the original Members of the Society at an attractive pre-launch price in order to generate capital to fund the project
The D.M. with the help of contractors, architects and structural engineers provides expertise in constructing the project
State of the art technology is used for construction. High grade concrete, Mivan technology, improved plumbing systems, fire safety and security systems are accounted for with the help of skilled consultants
Province PMC LLP. manages, coordinates, monitors and updates the Society Members about the construction and mitigates any problems that arise during the construction phase
With a strong network of Real Estate Agents, The D.M. launches the project to the open market at a competitive price after analysing the market trend in order to generate capital to fund the project.
Once the construction is complete, The D.M. applies for the occupation certificate.
The remaining sale flats are sold at an updated rate to recover the project cost and pay off the loan.
The balance fees of the consultants, contractors, vendors, PMC and D.M. need to be paid
The Original Society Members close their lease agreement and move into the newly constructed building along with the Members who have purchased the sale flats and form a new Society
Province PMC LLP is an Indian privately-held Project management firm. It was founded in 2012 and is headquartered in Mumbai.
To be India's preferred Project management firm known for delivery of quality services to perfection. Providing appropriate and innovative solutions to drive meaningful value to our clients.
To utilize our vast knowledge, resources and talent throughout India on behalf of our clients and to enable them to make the most informed real estate decisions.
