Mumbai’s Housing Makeover Gets a Boost

17 Apr 2025 CW Team

At the heart of the event was a powerful message from Shri Sanjeev Jaiswal, I.A.S., Vice President and CEO of MHADA, who underscored the importance of public-private synergy in overcoming the city’s land constraints and revamping outdated housing blocks. “Redevelopment is more than reconstruction—it’s about timely delivery, clear FSI frameworks, and tenant protection,” Jaiswal said. He highlighted recent legislative amendments, including Section 91A, which enables MHADA to take over stalled projects, and Section 79A, ensuring fair compensation for landowners in cess building redevelopment.

Jaiswal emphasized that responsible redevelopment hinges on viability, transparency, and speed—not just cement and steel.

The conclave offered live consultations for housing societies, empowering them with financial insights, legal clarity, and technical know-how to move forward with confidence.

Boman Irani, President of CREDAI National and CMD of Rustomjee Group, urged societies to focus on developer intent and track record over flashy offers. “The best offer is not the highest—it’s the one that’s sustainable and honest. Choose a solid legal and project management team and then trust them. Constant delays only increase risk,” he warned.

Domnic Romell, President of CREDAI-MCHI and Director of Romell Group, echoed the sentiment. “Let’s be clear: redevelopment is driven by need, not greed. Demanding excessive bank guarantees in a RERA-monitored environment is outdated. Understand the value of your 35% fungible FSI. Keep expectations realistic, and don’t let myths derail your future,” he said.

Adding to this, Dhaval Ajmera, Secretary, CREDAI-MCHI and Director at Ajmera Realty & Infra (I) Ltd., said, “With 40+ developers and over 3,000 societies participating, EODR 2.0 is more than an exhibition—it’s an engine of empowerment.”

The event also highlighted the economic scale of Mumbai’s redevelopment potential. With more than Rs 80,000 crore (approx. Rs 800 billion) worth of housing stock awaiting transformation, EODR 2.0 reaffirmed the city’s readiness for planned, inclusive growth.

Organised by CREDAI-MCHI—the apex body for developers across the Mumbai Metropolitan Region (MMR)—EODR 2.0 is being hailed as a turning point for Mumbai’s redevelopment sector.

About CREDAI-MCHI CREDAI-MCHI represents over 2,200 developers across the MMR and is part of CREDAI National, which connects 18,000+ developers pan-India. The body advocates ethical, transparent real estate practices and plays a key role in shaping housing policies that align with the vision of Housing for All.

In a landmark step toward rejuvenating Mumbai’s ageing housing infrastructure, CREDAI-MCHI’s Ease of Doing Redevelopment (EODR) 2.0 concluded at the Jio World Convention Centre today, bringing together over 3,000 housing societies and 40+ reputed developers. With active participation from legal experts, architects, urban planners, and policymakers, the conclave spotlighted the urgent need for transparent and sustainable redevelopment across the city. At the heart of the event was a powerful message from Shri Sanjeev Jaiswal, I.A.S., Vice President and CEO of MHADA, who underscored the importance of public-private synergy in overcoming the city’s land constraints and revamping outdated housing blocks. “Redevelopment is more than reconstruction—it’s about timely delivery, clear FSI frameworks, and tenant protection,” Jaiswal said. He highlighted recent legislative amendments, including Section 91A, which enables MHADA to take over stalled projects, and Section 79A, ensuring fair compensation for landowners in cess building redevelopment. Jaiswal emphasized that responsible redevelopment hinges on viability, transparency, and speed—not just cement and steel. The conclave offered live consultations for housing societies, empowering them with financial insights, legal clarity, and technical know-how to move forward with confidence. Boman Irani, President of CREDAI National and CMD of Rustomjee Group, urged societies to focus on developer intent and track record over flashy offers. “The best offer is not the highest—it’s the one that’s sustainable and honest. Choose a solid legal and project management team and then trust them. Constant delays only increase risk,” he warned. Domnic Romell, President of CREDAI-MCHI and Director of Romell Group, echoed the sentiment. “Let’s be clear: redevelopment is driven by need, not greed. Demanding excessive bank guarantees in a RERA-monitored environment is outdated. Understand the value of your 35% fungible FSI. Keep expectations realistic, and don’t let myths derail your future,” he said. Adding to this, Dhaval Ajmera, Secretary, CREDAI-MCHI and Director at Ajmera Realty & Infra (I) Ltd., said, “With 40+ developers and over 3,000 societies participating, EODR 2.0 is more than an exhibition—it’s an engine of empowerment.” The event also highlighted the economic scale of Mumbai’s redevelopment potential. With more than Rs 80,000 crore (approx. Rs 800 billion) worth of housing stock awaiting transformation, EODR 2.0 reaffirmed the city’s readiness for planned, inclusive growth. Organised by CREDAI-MCHI—the apex body for developers across the Mumbai Metropolitan Region (MMR)—EODR 2.0 is being hailed as a turning point for Mumbai’s redevelopment sector. About CREDAI-MCHI CREDAI-MCHI represents over 2,200 developers across the MMR and is part of CREDAI National, which connects 18,000+ developers pan-India. The body advocates ethical, transparent real estate practices and plays a key role in shaping housing policies that align with the vision of Housing for All.

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