Many buildings in the capital city of Panaji might be in need of redevelopment as these structures may not be in very good condition, especially as most of them are 50 years or older and thus in need of redevelopment.
However, considering that several matters as regards reconstruction of the same have to be addressed, it is essential that a master plan be devised so that the residents of these structures that are due for redevelopment are given the best deal and thus a smooth and fair and equitable frame work can be planned keeping in view the interests of the residents who are giving their prime locations many of which are in the segment of commercial locations.
It may be also stressed that considering that Panaji is a city that has most roads fairly narrow and thus that could become the target of excessive traffic congestion, that undue pressure on the traffic should not occur as an after effect of redevelopment of buildings which will result in the increase of the carrying capacity of the population in the city.
It has been observed that certain real estate companies are resorting to unacceptable terms and conditions as far as cost of reconstruction of the old buildings are concerned, which should not be the essence of redevelopment because this process should be of mutual benefit and thus inadvertent profiteering should not be the basis for reconstruction of the old buildings.
If a rational and prudent mechanism is devised so that undue financial burden is not put on the residents of old city buildings, aspiring redeveloping real estate companies will stand to make a decent buck as well as to gain the confidence of the city dwellers by restricting their bottom lines while not also suffering from making a lucrative deal. A fair and equitable agreement by the residents and the real estate companies have to be reached.
