Redevelopment – Msvchs

Redevelopment Of Society

Decision for Redevelopment:

On December 4, 2022, a Special General Body Meeting (SGM) was organized by the society to discuss on the redevelopment of the society. During the meeting, all members present voted in favor of the redevelopment. Additionally, it was decided that quotations from Project Management Consultants (PMCs) were to be requested as part of the redevelopment process. This indicates a clear mandate from the members to proceed with the redevelopment project and to seek professional assistance from PMCs in managing it.

Inviting Quotations from PMCs:

Following the decision made during the Special General Body Meeting (SGM) held on December 4th, 2022, the society issued a paper notice on December 26th, 2022, in the newspaper. This notice served to invite quotations from Project Management Companies (PMCs) interested in participating in the redevelopment of the society. By issuing this notice, the society initiated the process of soliciting proposals from PMCs, in accordance with the decisions made during the SAGM.

Selection of PMC:

On March 26th, 2023, another Special General Body Meeting (SGM) was organized by the society. During this meeting, the shortlisted Project Management Companies (PMCs) introduced themselves through presentations. Following a thorough review of all the presentations, Supreme Engicons (India) Pvt. Ltd. emerged as the preferred choice and was duly elected and appointed as the PMC for the society’s redevelopment by a majority vote. This decision marks a significant step forward in the redevelopment process, indicating progress towards realizing the society’s redevelopment goals.

Feasibility Report Approval:

On July 16th, 2023, another Special General Body Meeting (SGM) was arranged by the society. During this meeting, the appointed PMC, Supreme Engicons (India) Pvt. Ltd., presented the feasibility report regarding the redevelopment project. After thorough consideration and discussion, the majority of members approved the feasibility report. Additionally, any doubts or questions raised by the members were clarified during the meeting, ensuring transparency and understanding among all stakeholders involved in the redevelopment process. This approval signifies a crucial milestone in moving the redevelopment project forward.

Financial Statements Approval:

On September 24th, 2023, the society held its Annual General Meeting (AGM). During this meeting, the financial statements for the fiscal year 2022-2023 were presented and discussed. Additionally, forecasted Profit and Loss (P&L) statements were reviewed. Following deliberation, the majority of members approved both the financial statements and the forecasted P&L. This approval demonstrates the society’s commitment to financial transparency and responsible fiscal management, ensuring that all members are informed about the financial health and projections of the society.

Inviting Quotations from Developers:

On January 3rd, 2024, the society issued a paper notice in the newspaper to invite quotations from developers for the redevelopment of the society. This notice indicates the society’s intention to engage developers in the redevelopment project, seeking proposals and quotations to assess potential partnerships for the project. It demonstrates proactive steps taken by the society to explore options and move forward with the redevelopment process.