About Us

SMGK Group was conceived in the year 2000 by our Founder Chairman and Group President – Mr. Mohammed Ali Momin.

The Group has its strong foundations in the rich and varied experience of Mr. Momin since 1970. The growing reputation of our business house has been built over four decades of trust across all our stakeholders.

Contact Us

+91 22 2679 4006
info@smgkgroup.com

SMGK House, Hill Park Complex, Jogeshwari (W), Mumbai 400102. INDIA.

 

Estate Management

End-to-end single window solution for Self Redevelopment - The T.E.A.M way.

In space-crunched, land-starved metro cities like Mumbai, redevelopment is a fact of life. The traditional way of redevelopment in urban cities involves getting developers on board to redevelop dilapidated residential projects. However, lately many housing societies in Mumbai are now opting for self-redevelopment.

SMGK Group introduces T.E.A.M, a new self-redevelopment advisory service offering to empower old housing societies to take up the ownership and control over the redevelopment of their own buildings without the need to involve any developer.

Studying the changing needs of the redevelopment industry and realizing that there is a huge gap due to the lack of any credible solutions provider in the self-redevelopment space, we have introduced T.E.A.M.

FAQ's

T.E.A.M, Explained

What does T.E.A.M stand for

T - Title Holders I E – Engineers I A – Architects I M - Managers

T - Title Holders are persons having shares in the property in proportion to the areas owned by them.

E - Engineers are the qualified professionals such as RCC Consultants, skilled contractors and other competent agencies necessary for the execution of a redevelopment project.

A - Architects are professionals who are responsible for preparing the detailed concept of the project and obtaining requisite approvals/NOCs from concerned departments for its successful completion.

M - Managers are people who are responsible for managing the project and organizing finance required for the timely completion of the project.

The T.E.A.M playbook on Self Redevelopment

Download E Brochure

ADVANTAGES of Self Redevelopment

Why is self redevelopment better than traditional redevelopment?

To encourage self-redevelopment and to help housing societies to carry it out in a more effective manner, the state Government is coming up with various incentives and benefits. These include extra floor space index (FSI), single-window approvals; discounts on loans and so on.

The time is just right to opt for self-redevelopment in Mumbai. Here are some benefits of the same:

i) The society reserves full control over the redevelopment project including designs, plans, development standards, timelines etc. Which isn’t possible when one opts for traditional redevelopment.

ii) Society can keep the full profits from the saleable area and it doesn’t go to the Developer as in the case of conventional redevelopment.

iii) Society members get an extra carpet area of up to 35-45%, compared to 25-35% if the project is done by a Developer.

iv) Throughout the entire redevelopment process, all the property rights remain with the society.

v) Bank finance and interest subsidy are available for construction loan taken under self-redevelopment scheme

vi) Stamp duty concession and rebate on TDR are available for self-redevelopment projects.

The benefits of working with T.E.A.M

i) The Title Holders take an active part in the planning, approvals, execution and completion of the project and even in marketing and selling the Sale Areas available with them at desired prices and stages of the project thereby becoming important stakeholders of the project at every level. They also enjoy the benefits of profits, as desired and at the same time get the assurance of the minimum benefit to be derived from the project.

ii) Chances of project failure are negligible due to the Title Holders’ active involvement at every stage/level avoiding unwarranted litigations due to trust deficit with the Builder/Developer.

iii) T.E.A.M ensures transparency at all levels/stages of the project. At the same time, the Title Holders retain their ownership and have an option to pick and choose the benefits in lieu of the sale areas they own.

iv) Funds for TDR, fungible etc., are ensured through the mutually agreed sale of Sale Areas.

v) In the process, the Title Holders stand to gain from market conditions as well as the other Team members also are involved in the Sale Area benefits.

vi) Investment is lesser and hence finance cost is saved which is actually shared among the T.E.A.M. Also, the Stamp Duty and Taxation is largely saved.

vii) Due to clear dissection of the process the revenues as well as the hidden cost/profits, there is complete transparency resulting in the satisfaction of the Title Holders and since ownership is retained anxiety is lesser.

viii) T.E.A.M stands to benefit from the Brand value and experience of the SMGK Group and hence the cost price of the product is feasible.

There’s a reason why we call it T.E.A.M. Because only a TEAM works in the collective interest of any redevelopment project.

Not sure if you want to redevelop or self-redevelop your old housing society?

Get on a one-to-one chat with us by sharing a few details:

    Contact Us

    SMGK House, Hill Park Complex, Capt. Suresh Samant Marg, Near Agarwal Ind. Estate, Jogeshwari (W), Mumbai 400102. India.

    T : +91 22 4826 0096 / 76

    E : info@smgkgroup.com