Role of society in redevelopment

Role of society in redevelopment

After getting the feasibility report from the Project Management Consultant or PMC, the secretary has to convene joint meeting of managing committee members and the General Body to approve the project report.
The notice for the meeting should be displayed on the notice board of the society mentioning the date, time and the venue. The members are asked to forward their suggestions to the secretary so that those suggestions could be discussed with the PMC. The members are also informed that the project report would be available for inspection in the office of the society.
If the report of PMC is approved with or without modification by the committee then they will finalize the procedure for floating tenders for redevelopment. Draft of tender form will be prepared and date of next general meeting will be decided to consider the bids.
On the basis of tenders the PMC will invite bids from interested developers. The names of bidders will be displayed on the notice board of the society.
After 15 days (counted from the last day of receiving the bids), the secretary has to convene the meeting of the managing committee. The authorized representatives of bidders are also invited to be present. The bids are opened in the presence of all those bidders who are present in the meeting.
After opening the bids PMC has to scrutinize the same and prepare a comparative chart of all the bids. The committee is to shortlist at least five names or less if total bids are less than five.
Thereafter the Special General Body Meeting is convened. This SGM will take place in the presence of the authorized representative of the Deputy Registrar of Co-operative Societies to be appointed by the Registrar on application by the society and the entire proceedings will be recorded in video format. The quorum for SGM will be three-fourth of total number of members. If the quorum is not reached, the meeting will be adjourned for eight days. If quorum is not reached in adjourned meeting also, it will be deemed that members have no interest. The meeting will be cancelled and the project will not be taken up.
If there is quorum SGM will proceed with its business. The secretary apprises the members, comparative bids received including the proposed corpus, latest amenities and commercial terms. The General Body has to appoint one developer for carrying out the work of redevelopment. Once the name is finalised then the agreement has to be executed.
The next step is to enter into an agreement with the developer within one month under guidance from PMC. The agreement should provide that the period for completion will not exceed two years.

Source: Guide to Redevelopment of Housing Societies by KK Ramani and NC Jain