“Redevelopment” refers to the process of reconstruction of the residential/commercial premises by demolition of the existing structure and construction of a new structure. Today the societies are opting to go for redevelopment than repair. For redevelopment, builder enters into a de velopment agreement with the Society.

The Railway Board has now asked the general managers of the zonal railways to take up the stations redevelopment plans, and all the works or contracts being handled by IRSDC are to be taken over.