Maharashtra, India, November 16, 2024: In Maharashtra’s redevelopment landscape, conflict isn’t a hindrance — it’s an opportunity. CA S Lakshminarayanan, a distinguished ISB alumnus and a renowned redevelopment consultant, believes that successful projects don’t avoid conflict; they harness it to foster collaboration.
With numerous stakeholders, including committees, developers, and consultants, clashes are inevitable. However, as Lakshminarayanan asserts, the key to project success lies in skilled mediation, transparent communication, and robust governance frameworks.
Skilled Mediators bridge gaps, enabling productive dialogue. When committees voice concerns about delays and developers explain technical hurdles, conflicts turn into opportunities for collective problem-solving. Tricky situations in Redevelopments occur when people not wanting Redevelopment spin in a non-transparency narrative and also provide distracting details which need to be mediated by a person with an all-round solution spanning legal, financial and architectural expertise.
Financial Transparency as a Trust-Building Tool
One of the most common areas of conflict is financial transparency. Mr. Lakshminarayanan highlights how frequent financial updates and accessible documentation prevent misunderstandings and establish trust. When everyone involved understands the project’s economic health, collaboration becomes more accessible, and suspicion is reduced.
Robust Governance: The Foundation for Conflict Prevention
At the heart of any successful project is governance. Lakshminarayanan emphasises the importance of establishing roles, responsibilities, and legally binding agreements early on. A solid framework keeps all parties accountable, ensuring minor issues don’t snowball into significant disputes. With majorly senior citizens involved and not so experts in real estate terminologies, whom to trust is a big issue and hence, governance plays a significant role in navigating through this complexity.
A Collaborative Future for Redevelopment
Lakshminarayanan envisions a future where redevelopment projects are not just contractual obligations but shared visions. By moving beyond adversarial relationships and focusing on common goals, redevelopment can transform Maharashtra’s ageing buildings into thriving communities.
In summary, conflict in redevelopment isn’t about winning or losing — it’s about creating a framework for success where every stakeholder works towards the common good.
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