Existing tenants, FSI dynamics, consent timelines, and the layered timing complexity that standard construction finance was not designed to handle. Redevelopment needs a different kind of structure.
Greenfield construction has a single constraint: build the project. Redevelopment has five running simultaneously. Vacating existing occupants. Navigating society consent and regulatory approvals. Managing FSI calculations that change the economics. Providing transit accommodation commitments. And then — once all of that is resolved — financing and building the new development on a site that has lived-in complexity.
Every one of those variables is a potential timeline slip. And every timeline slip is a financing event if the debt structure doesn't account for it.
Lenders who don't understand redevelopment apply greenfield assumptions to a fundamentally different risk profile. FINKOI's structuring work begins with mapping that complexity — the consent timeline, the vacating schedule, the FSI monetisation path — and designing debt that can absorb it.
Redevelopment finance requires patient capital with intelligent structure — not a standard term loan force-fitted to an asset it doesn't understand.
Drawdown structured around vacating progress — building in the reality that not all occupants move simultaneously and the construction schedule has a dependency on that sequence.
Where transit accommodation is part of the consent agreement, we size and structure the facility to cover that obligation without treating it as a cost overrun.
Where additional FSI is available for sale — to fund the free-sale component — we build that revenue into the financial model and lender presentation from the outset.
Tranching the facility so the developer isn't carrying the full cost of capital while consent and approvals are still in process — reducing unnecessary interest burden.
For SRA projects and government-scheme redevelopments, we structure within the specific regulatory framework — funding sequencing that aligns with scheme milestones.
Where the project has a rehabilitation component and a free-sale component with different cash flow timelines, we design capital structures for each — rather than blending them into a single facility that misunderstands both.
Most lenders apply a construction-finance lens to redevelopment mandates. The error is understandable but consequential.
Timeline assumptions from a greenfield project — slab by month 6, superstructure by month 14 — do not transfer to a site where the existing structure comes down in month 9 because consent arrived late.
Revenue timing is different. Pre-sales may be limited until RERA registration, which requires approvals, which require vacant possession. The cash-in timeline is longer and less linear.
Collateral position during the demolition-to-construction gap is complex. The existing structure is gone; the new one is not yet above ground. The security story during that window needs to be constructed before the lender encounters it.
"Redevelopment mandates that fail financing usually fail at presentation — the credit story wasn't built around the asset's actual risk profile. That's the work we do before any lender conversation begins."
Redevelopment mandates where the complexity justifies specialist advisory — not straightforward redevelopments where a direct lender relationship is the efficient path.
Projects where a developer has signed an agreement with a housing society — managing consent, transit accommodation, and the free-sale component that makes the economics work.
Developments under the Slum Rehabilitation Authority framework — where regulatory milestones, free-sale timing and rehabilitation obligations require careful capital sequencing.
Older residential or commercial buildings approaching end of life — where the developer has acquired or been appointed to redevelop and needs to fund both the replacement and the occupant obligations.
Share the project — society consent status, FSI, ticket size, what's in place already. We'll come back with a structure view that accounts for the real timeline.
