CREDAI-MCHI successfully hosts the first-ever Redeveloping Mumbai: Ease of Doing Redevelopment (EODR) Exhibition

The landmark event simplifies redevelopment processes for over 900 housing societies, connecting them with more than 40 top developers

Mumbai, September 28, 2024: CREDAI-MCHI, the apex body representing real estate developers in the Mumbai Metropolitan Region (MMR), successfully hosted the first-of-its-kind exhibition titled ‘Redeveloping Mumbai: Ease of Doing Redevelopment (EODR)’ today at the Jio Convention Centre, Jasmine Hall. The event aimed to simplify the redevelopment process for housing societies across Mumbai by offering direct interaction with over 40 reputed developers and experts in the field.

A significant highlight of the event was the unveiling of the Ease of Doing Redevelopment Report, a joint research initiative between CREDAI-MCHI and Hurun India. The report, presented by Shri Domnic Romell, President, CREDAI-MCHI, and Anas Rahman Junaid, Founder and Chief Researcher of Hurun India, focuses on companies leading the way in Mumbai’s redevelopment. It serves as a critical resource, providing insights into the redevelopment landscape and the companies at the forefront of this transformation.

The event commenced with a grand lamp-lighting ceremony performed by esteemed dignitaries, including Mr. Gautam Chatterjee (Retd. I.A.S., Former Chairperson, MahaRERA), Ms. Valsa Nair (I.A.S., Additional Chief Secretary, Housing Department), Mr. Sanjeev Jaiswal (I.A.S., Vice President & Chief Executive Officer, MHADA), Mr. Ravi Shankar Shinde (TMC Municipal Corporation), Mr. R. B. Mitkar (Deputy Chief Engineer, SRA), Mr. Domnic Romell (President, CREDAI-MCHI), Mr. Dhaval Ajmera (Secretary, CREDAI-MCHI), Mr. Rajnikant Ajmera (Past President, CREDAI-MCHI), Mr. Jitendra Mehta (Past President, CREDAI-MCHI Thane Unit), Mr. Nikunj Sanghavi (Treasurer, CREDAI-MCHI) and Mr. Raajesh Prajapati (Chairperson, PR & Communications).

Ms. Valsa Nair, I.A.S., Additional Chief Secretary, Housing Department, mentioned, “Ease of doing redevelopment is a crucial initiative for Mumbai, and I am committed to simplifying processes further. Just as we reduced the number of approvals in other sectors, I believe we can streamline redevelopment procedures to benefit citizens. One key takeaway from today is the proposed portal for redevelopment, which can bring transparency, speed, and inclusivity. With over 100 self-redevelopment projects already cleared, we are seeing significant progress, and we look forward to supporting this with a strong partnership between the government and stakeholders."

Mr. Sanjeev Jaiswal, I.A.S., Vice President & Chief Executive Officer, MHADA, said, "The cluster approach is the key to successful redevelopment in Mumbai, moving beyond individual buildings to create better amenities, infrastructure, and living conditions. I'm pleased that for the first time, cluster layouts have been approved under 33(5) and 33(9). Projects like Motilal Nagar and Gandhi Nagar are leading the way, showing that societies coming together can truly transform the city in a sustainable and efficient manner."

Speaking at the event, Mr. Dominic Romell, President of CREDAI-MCHI, said, “The Ease of Doing Redevelopment (EODR) initiative is a game-changer for Mumbai’s redevelopment landscape. With around 929 societies visit and 214 project management consultants (PMCs), this platform is set to make the redevelopment process smoother. We are also distributing DCPR copies to societies for the better understanding of redevelopment guidelines. The government's decision to provide fungible areas free of charge has significantly eased the journey for housing societies, ensuring they get the right area as promised.”

Mr. Dhaval Ajmera, Secretary, CREDAI-MCHI, said, "The success of the 'Ease of Doing Redevelopment' exhibition demonstrates CREDAI-MCHI's commitment to simplifying redevelopment processes. This platform provides housing societies with direct access to developers and expert consultants, which is crucial for smooth and transparent redevelopment."

Mr. Raajesh Prajapati, Chairman - PR & Communications, CREDAI-MCHI, added, "This event not only facilitated discussions between societies and developers but also provided valuable insights into the legal and regulatory frameworks governing redevelopment. We are proud to bring a much-needed bridge for housing societies seeking sustainable and efficient redevelopment solutions."

The day also featured a panel discussion on “Ease of Redevelopment,” which included prominent industry leaders such as Manoj Dubbal, President of PEATA; Mr. Sagar Sanghvi from Dilip Sanghvi Associates; Mr. Shardul Kulkarni from Deodhar Associates; and Mr. Sudhanshu Agarwal, Managing Director of Raghav Realty.

The exhibition provided housing societies a unique platform to engage directly with developers, project management consultants, and legal experts. Attendees gained valuable insights into redevelopment processes, legal frameworks, and government support for revitalizing old housing stock.

With 929 housing societies and more than 40 leading developers in attendance, the EODR exhibition marked a crucial milestone in Mumbai's redevelopment sector. The event serves as a one-stop solution for housing societies to explore feasible and sustainable redevelopment options.

ABOUT CREDAI-MCHI

CREDAI-MCHI is an apex body comprising members from the Real Estate Industry in the Mumbai Metropolitan Region (MMR). With an impressive membership of over 1800+ leading developers in MMR, CREDAI-MCHI has extended its reach throughout the region, establishing units in various locations such as Thane, Kalyan-Dombivli, Mira-Virar, Raigad, Navi Mumbai, Palghar-Boisar, Bhiwandi, Uran-Dronagiri, Shahapur-Murbad, and most recently in Alibag, Karjat-Khalapur-Khopoli, and Pen. Being the only Government-recognized body for private sector developers in MMR, CREDAI-MCHI is dedicated to promoting the industry’s organization and progress.

As a part of CREDAI National, an apex body of 13000 developers across the nation, CREDAI-MCHI has emerged as a preferred platform for regional discussions on housing and habitat by establishing close and strong ties with the government. It is committed to breaking barriers to create a strong, organized, and progressive real estate sector in the MMR.The vision of CREDAI-MCHI is to empower the Real Estate fraternity of the Mumbai Metropolitan Region as it preserves, protects, and advances the right to housing for all. To continue being a trusted ally, guiding their members, supporting the Government on policy advocacy, and assisting those they serve through the ever-evolving real estate fraternity.

Website: https://mchi.net/

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