In a major boost to Mumbai’s redevelopment momentum, Mr. Sanjeev Jaiswal, IAS, Vice President and CEO of MHADA, announced that No Objection Certificates (NOCs) for the redevelopment of old cessed buildings submitted under Section 79A(1a) or 79A(1b), along with 51 per cent resident consent, will be issued within six weeks. The directive, declared at MHADA’s 2nd Redevelopment Conference and Investors Summit, brings these approvals under the Right to Service Act. If delayed beyond the stipulated timeframe, the NOC will be deemed approved.

The event, held at MIG Club, Bandra (East), brought together key industry leaders including Mr. Boman R. Irani, Mr. Domnic Romell, Mr. Gautam Chatterjee, Dr. Niranjan Hiranandani, Mr. Prashant Sharma, and Mr. Rajan Bandelkar, among others.

Mr. Jaiswal noted, “If all stakeholders honour their commitment, the goal of constructing 8 lakh affordable houses in the MMR over the next five years can be met.” MHADA's projected investment is Rs 6,609 crore, with developers expected to contribute Rs 1.28 lakh crore. Projects at GTB Nagar, Abhyudaya Nagar, Motilal Nagar, and BDD Chawls were identified as immediate priorities.

Key reforms shared included FSI 3.00 or rehab + 75–100 per cent incentive FSI for both cessed and non-cessed buildings, with surplus tenements from 33(9) schemes to be used for transit without prior approval from MCGM or MMRDA. Premiums on combined schemes will be calculated on the smaller plot area. Financial relief measures include a 13 per cent reduction in interest rates, instalment-based premium payments, and GST relaxation on rehab units.

MHADA will also act as the nodal agency for affordable rental housing, with proposals such as a Rental Housing Index, 100 per cent income tax exemption for rental income for 10 years, and the use of unused MHADA land for rental developments. Inclusive housing norms were discussed, including fixed tenement pricing at 125 per cent of DSR and restrictions on subdivision for plots under 4000 sq.m.

The MMR Growth Hub plan aims to deliver 7.82 lakh housing units through a 60:40 sale-to-rehab model, with unit costs averaging Rs 50 lakh. Nearly 13,000 cessed buildings have been identified for redevelopment.

Mr. Jaiswal concluded with an appeal: “Whichever project they undertake, it must be completed on time, houses must be delivered as per the committed schedule, and there should be no injustice to the rehabilitation component under any circumstances.”