Many of the trusted, veteran builders in the city are now redeveloping their own old schemes after decades. Old societies looking for redevelopment have also been approaching the builders of the schemes.
Ahmedabad has been witnessing an increase in redevelopment deals for the past couple of years, but the conversion ratio is very low. In such situations, the residents evaluate all available options including getting the scheme redeveloped by the original builder.
The Synthesis Group had developed Suresha Apartments near Ishwar Bhuvan more than four decades ago. The society with a plot size of around 5,000 sq yards has 46 apartments. Around 90 percent of the residents are the original buyers to whom these apartments were sold. The group will construct 97 apartments of 4-BHK each as part of redevelopment.
Similarly, Bakeri Group finalized the redevelopment of its old society in Ramdevnagar recently. The group had built the society some 33 years ago. They received an offer from the society residents for the redevelopment project. Nearly 80 percent of the residents are original buyers.
Also, Ami Corporation, which has developed about 60 projects in the last five decades, is close to finalising two redevelopment deals of its own projects. One project is located in Paldi while the other is in Gurukul.
Also Read: City Girl Set to Get Bravery Award