CREDAI-MCHI inks MoU for 2.5 lakh affordable housing in Mumbai and MMR

Signed during Magnetic Maharashtra Summit inaugurated by Prime Minister Of India. MoU for estimated investment of Rs 75,000 crore. 2.5 lakhs affordable houses. Direct employment generation of 521,000. 121 projects to be commissioned. CREDAI-MCHI inked an important Memorandum of Understanding (MoU) with the Government of Maharashtra for affordable housing in the presence Maharashtra Chief Minister Devendra Fadnavis at the Magnetic Maharashtra Summit in Mumbai. The MoU was jointly signed by Sanjay Kumar, Additional Chief Secretary, Department of Housing, Government of Maharashtra and Mayur Shah, President, CREDAI-MCHI. Sunil Porwal, Additional Chief Secretary, Industry Department, Government of Maharashtra, was also present on the occasion.  CREDAI-MCHI was represented by Mayur Shah, President; Nayan Shah, President-Elect, Harish Patel, Vice President, Deepak Goradia, Vice President, Domnic Romell, Secretary and SS Hussain, CEO, and presented MoU document to the Chief Minister. By inking this MOU, the Government of Maharashtra and CREDAI-MCHI have taken a major step towards shaping Prime Minister Narendra Modi’s flagship project of Housing for All, thus paving the way for affordable housing. The move is to be in sync with the Prime Minister’s vision of providing every family with a pucca house of his own with water and electric connection with basic sanitation facilities when the nation celebrates 75 years of Independence. Speaking on the occasion, Mayur Shah, President, MCHI-CREDAI, said, “This MoU is a landmark step in providing the desired momentum to the affordable housing in Mumbai, which is need of the hour. It is a matter a great pride for us that MoU for 2.5 lakh houses, with an estimated investment of Rs 75,000 crore has been signed during the Magnetic Maharashtra Summit, inaugurated by Prime Minister Narendra Modi. We at CREDAI-MCHI are moving ahead with our mission to solve the housing problem of Mumbai and MMR and this MoU will go a long way in enabling us achieving it.” The objective of the MoU is to provide a big push to the construction of more affordable housing and to address the housing deficit in the MMR. This is one big step towards fulfilment of the Chief Minister’s vision of providing a roof to every Mumbaikar so that no one remains homeless in MMR. Thus, addressing the problem of housing in Mumbai and MMR in a major way.  Under the MOU, the immediate initiative would be to kick start 2.5 lakh affordable housing units at an estimated investment of Rs 75,000 crore in 2018, with joint efforts of Government of Maharashtra and CREDAI-MCHI. The ‘Ease of Doing Business’, which was implemented by MCGM in the recent past would enable to complete the task in stipulated time. Here, the desired focus would be provided by Maharashtra Chief Minister Devendra Fadnavis by ensuring that all proposed projects are able to obtain necessary permissions, registrations, approvals, clearances and fiscal incentives, etc, from the concerned departments of the state in time.