Unified Industry Voice Gains Momentum

Under President Nahar, CREDAI-MCHI has strengthened its partnership with government bodies by forming a joint platform that brings together CREDAI-MCHI, NAREDCO, PEATA, and BDA.
This unified structure—created on the guidance of the Chief Minister—allows the industry to present collective issues before authorities for quicker, more coordinated resolutions.

A convergence meeting was held at Four Seasons Hotel, followed by a joint review session with BMC Commissioner Bhushan Gagrani (IAS). The minutes of this meeting were officially signed at the AGM, marking a milestone in structured engagement between the real estate sector and the civic administration.

Ease of Doing Business 2.0: A Push for Faster, Transparent Approvals

CREDAI-MCHI unveiled Ease of Doing Business 2.0, a revamped framework aimed at streamlining construction approvals, enabling time-bound decisions, and improving transparency across regulatory bodies.
Monthly review mechanisms with the BMC and SRA are now being institutionalised to track real-time progress and break operational bottlenecks.

Industry Steps Up for Social Responsibility

During the recent Maharashtra floods, CREDAI-MCHI members collectively contributed ₹5.5 crore to the Chief Minister’s Relief Fund within hours—demonstrating rapid, coordinated social response.

BMC Commissioner Bhushan Gagrani praised the unified industry approach, calling it a “benchmark for effective industry-government engagement.” He also urged developers to strictly follow construction safety and pollution-control guidelines amid rising AQI levels in Mumbai.

Leadership Voices: A Collaborative Path Forward

Sukhraj Nahar, President, CREDAI-MCHI

“Our focus has been on unifying industry voices and ensuring time-bound approvals through regular reviews with BMC and SRA. These steps, backed by transparent processes and responsible development, aim to make MMR one of India’s most efficient real estate ecosystems.”

Rushi Mehta, Secretary, CREDAI-MCHI

“We celebrate not just our longevity but our impact—from litigation that unlocked 700+ schemes to advocating the transformative 10:10:80 premium policy. Collective action drives real change.”

Jitendra Mehta, Senior Vice President

“We continue to strengthen collaboration between developers and the administration. Our goal remains a transparent and fast approval ecosystem that supports timely project execution.”

Fireside Chats Highlight Industry Vision

The AGM also featured two Fireside Chats with top industry leaders:

• Parag Shah & Manan Shah (MICL Group) – sharing their philosophy of building generational landmarks
• Shahid Balwa (DB Realty Ltd.) – highlighting innovation and bold vision in real estate

These conversations offered deep insights into Mumbai’s future development trajectory.

CREDAI-MCHI’s Forward Agenda

• Ease of Doing Business 2.0: Regular structured reviews with BMC, SRA, MHADA, and MahaRERA
• Unified Industry Representation: Strengthened collaboration among CREDAI-MCHI, NAREDCO, PEATA, and BDA
• Policy Engagement: Continued dialogue with UDD and civic bodies for regulatory streamlining
• Supporting New City Development: Participation in planning two upcoming cities under the Chief Minister’s vision
• Accountability: Monthly reviews and published minutes for transparent progress tracking

Conclusion

The 43rd AGM reaffirmed CREDAI-MCHI’s role as the central industry-government platform for MMR’s real estate ecosystem—driving faster approvals, unified representation, and responsible urban growth.

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The occasion marked the change of guard at CREDAI-MCHI, with Sukhraj Nahar taking over as President from Dominic Romell. Fadnavis, who attended as the Chief Guest, used his address to call out what he described as the sector’s broken promises.

‘We Fulfilled Your Demands… Yet Prices Still Went Up’

Fadnavis recalled that over the last decade, developers repeatedly approached the government seeking policy concessions — especially reductions in premiums — claiming this would make homes in Mumbai affordable.

“We reduced premiums, fulfilled every demand. I even expected prices to drop after the Coastal Road was developed. But instead of lowering prices, you raised them,” he said, drawing sharp attention from the audience of leading developers.

A Public Accountability Moment for the Sector

The Chief Minister’s remarks highlight a rare public confrontation between the state and Mumbai’s powerful real estate sector. While government concessions were aimed at reducing input costs, housing prices in the city have continued to climb, putting home ownership out of reach for many middle-class buyers.

CREDAI-MCHI Leadership Transition

The evening was also about leadership change, with Sukhraj Nahar stepping in as the new President of CREDAI-MCHI, one of India’s most influential real estate bodies. Outgoing president Dominic Romell was acknowledged for his tenure, while the incoming leadership pledged to work closely with the government on housing issues.

Also Read: CREDAI-MCHI Launches Exhibition to Streamline Redevelopment in Mumbai

The post ‘We Cut Costs, You Raised Prices’: CM Fadnavis Slams Builders at CREDAI-MCHI Event appeared first on Square Feat India.

This judgment delivers long-awaited relief to over 493 stalled projects in the Mumbai Metropolitan Region (MMR) and Pune, unlocking progress for 70,000+ housing units, predominantly in the affordable and mid-income categories.

Regulatory Clarity for the Real Estate Sector

The Supreme Court struck down provisions of the 2014 and 2016 notifications — Clause 14(a) and Appendix 16 — which proposed an Environmental Cell under local authorities, a change that threatened to create overlapping jurisdictions and confusion. The court also rejected differential treatment for industrial sheds and educational buildings under the Environment (Protection) Act, 1986, calling for uniform regulation.

Industry Applauds the Judgment

Domnic Romell, President of CREDAI-MCHI, hailed the verdict:

“This judgment is a direct result of CREDAI-MCHI’s proactive legal intervention to protect the interests of our members and thousands of homebuyers impacted by stalled projects. We are grateful the Supreme Court has upheld SEIAA and SEAC’s role as competent authorities. This is a monumental relief for Maharashtra’s real estate sector.”

Romell credited the association’s leadership, legal team, and industry unity for the outcome, emphasizing CREDAI-MCHI’s commitment to driving meaningful reform.

Boost for Affordable & Mid-Income Housing

The verdict removes the regulatory ambiguity that had delayed project approvals, construction timelines, and shaken homebuyer confidence. Developers in MMR and Pune can now move ahead with environmental clearance procedures under a stable and recognized authority, paving the way for timely delivery of much-needed housing stock.

Sustained Advocacy Pays Off

This case highlights CREDAI-MCHI’s ongoing dedication to ensuring regulatory clarity, protecting developer rights, and safeguarding homebuyer interests. The official order will be uploaded shortly, marking the final step in a case that could reshape Maharashtra’s project approval landscape.

Also Read: Supreme Court Clears Redevelopment of Bharat Nagar Slum in Bandra

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The seminar featured legal and industry experts including Sunny Bijlani, Joint Secretary of CREDAI-MCHI, and legal minds Rohit Jain and Harsh Shah from Economic Laws Practice (ELP). The panel discussed how the GST confusion has deterred redevelopment efforts, especially in a city like Mumbai where land is scarce and vertical development is essential.

Bijlani emphasized the high development costs in Mumbai—₹55,200 per sq. m. compared to just ₹1,800 in Pune and ₹5,500 in Delhi—as a major deterrent. “When you add layers of GST and regulatory ambiguity, projects simply don’t take off. Solving these issues isn’t just about helping developers—it’s about giving safer homes to thousands living in dangerous, dilapidated structures,” he said.

Harsh Shah clarified that while the Nagpur Bench’s ruling has been seen as a blanket GST exemption, it merely excluded reverse charge GST on development rights. “GST is still applicable, either on a forward or reverse charge basis, depending on the transaction. The misinterpretation has led to confusion, legal risk, and stalled projects,” he warned.

Rohit Jain highlighted how current GST layers—5% on sales, 18% on development rights, 5% on rehab units, and non-creditable GST on materials—are choking margins. “We’ve submitted detailed representations to the GST Council. Reclassifying development rights as immovable property is key to resolving the issue,” he added.

CREDAI-MCHI estimates that over 25,000 buildings in the Mumbai Metropolitan Region (MMR) are eligible for redevelopment, with potential project value exceeding ₹30,000 crore. Already, MHADA has started audits on 13,000 cessed buildings in South Mumbai, signaling urgency in reviving stalled or delayed projects.

The ruling is seen as a potential turning point for the city’s real estate sector, providing clarity on tax treatment and boosting confidence in undertaking redevelopment. CREDAI-MCHI also announced the second edition of its EODR Exhibition, which aims to showcase best practices and ease stakeholder challenges in redevelopment.

As Mumbai looks to modernize its aging building stock and provide housing for all, legal clarity on GST is being seen as one of the most effective tools to unlock urban renewal at scale.

Also Read: CREDAI MCHI Announces Palghar-Boisar Property Utsav 2025, Showcasing 3,000+ Properties

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Addressing the gathering, Sanjeev Jaiswal (IAS), Vice President & CEO of MHADA, stressed the critical need for robust public-private partnerships to redevelop dilapidated buildings across Mumbai. He highlighted recent regulatory changes aimed at expediting stalled projects, including amendments to Section 91A, which allows MHADA to take over such developments.

“Land scarcity remains a fundamental challenge for Mumbai. The amendment under Section 91A is both timely and necessary. Section 79A now offers fair compensation to landowners, resolving long-standing bottlenecks in cess building redevelopment. Redevelopment must be transparent, viable, and delivered on time. FSI clarity and honest communication are essential to protect tenant rights and ensure project success,” Jaiswal said.

The one-day event facilitated live consultations between developers and societies, offering support in legal, financial, and technical planning for redevelopment. Stakeholders across the spectrum—urban planners, legal experts, architects, and housing society members—engaged in sessions to demystify the redevelopment process.

Boman Irani, President of CREDAI National and CMD of Rustomjee Group, urged societies to prioritise a developer’s credibility over financial allure. “The highest offer is not always the best. Evaluate the developer’s track record and financial capacity. Once you’ve chosen your committee and consultants, trust their process,” he advised, while warning against over-cautious delays.

Domnic Romell, President of CREDAI-MCHI and Director at Romell Group, addressed concerns about financial security, stating, “In today’s RERA-compliant environment, demands for excessive bank guarantees are outdated. Project funds are tightly regulated through escrow accounts. Residents must be aware of their entitlements, like the 35% fungible FSI, and make practical decisions.”

Dhaval Ajmera, Secretary of CREDAI-MCHI and Director at Ajmera Realty & Infra, noted that EODR 2.0 was designed to empower societies. “With over 3,000 societies and 40+ developers participating, our goal is to streamline processes and rebuild trust. Societies now have the resources and guidance to convert aging buildings into secure, modern homes,” he said.

CREDAI-MCHI’s EODR 2.0 concluded with a shared commitment from developers and housing societies to move forward with transparent, efficient, and resident-focused redevelopment practices in Mumbai.

Also Read: CREDAI Pledges to Construct 4000 Green Projects by 2030

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Industry body CREDAI-MCHI has welcomed the government’s initiatives, emphasizing their impact on housing and connectivity. Domnic Romell, President of CREDAI-MCHI, said, “The Maharashtra state budget lays a strong foundation for economic growth through strategic investments in infrastructure and housing. The focus on urban development, including multi-modal corridors, metro projects, and improved connectivity, will propel the MMR as the economic powerhouse of India. The allocation of ₹8,100 crore for urban housing reaffirms the government’s commitment to ‘Housing for All,’ which will provide a significant boost to real estate development.”

The budget’s emphasis on industrial growth is also expected to drive demand for commercial and residential real estate. Dhaval Ajmera, Secretary of CREDAI-MCHI, highlighted the importance of the ‘Make in Maharashtra’ policy and projected investments of ₹40 lakh crore over the next five years. “The budget’s emphasis on industrial development, transport infrastructure, and housing will unlock new opportunities for real estate and allied sectors. The government’s focus on streamlining policies, enhancing fiscal discipline, and ensuring timely project execution will bring greater stability and confidence to the sector,” he said.

Experts believe the government’s focus on capital investment and innovative financing models will lead to sustained economic stability. Nikunj Sanghvi, Treasurer of CREDAI-MCHI, noted, “A budget that prioritizes capital investment and fiscal responsibility is always a win for real estate and infrastructure. The commitment to rural and urban housing, road connectivity, and financing through models like Maha InvITs will drive long-term economic stability. With GST revenues witnessing steady growth and Maharashtra maintaining its lead in infrastructure spending, the real estate sector is poised for sustained expansion.”

With increased investments in housing and infrastructure, the Maharashtra budget is expected to strengthen the state’s real estate sector.

Also Read:budget expecations by real estate

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This three-day expo will feature over 100 developers showcasing over 500 projects from more than 5000 locations. Developers like DGS TOWNSHIP, Adani Realty, and Rustomjee will present a wide range of housing options for attendees. In addition to developers, more than 25 financial institutions, including State Bank of India, Bank of India, and LIC Housing Finance, will offer home financing solutions to ensure a smooth buying experience.

The event’s theme, “Book Your Home in 10 Minutes,” aims to streamline the home-buying process by enabling visitors to quickly book homes and secure loan approvals. One of the key attractions will be India’s first Quick Real Estate Mall, which simplifies home bookings for first-time buyers.

On January 19, the expo will observe Pink Sunday, a special initiative for women homebuyers, offering an additional ₹2 lakh discount on home bookings, along with other developer promotions. This initiative encourages women to purchase homes in their own name and aims to empower them in the real estate market.

CREDAI-MCHI President, Mr. Dominic Romell, highlighted the expo’s focus on making the home-buying experience quicker and easier. “The ‘Book Your Home in 10 Minutes’ initiative at the Quick Real Estate Mall simplifies the process, allowing buyers to secure their dream homes with ease,” he said.

The expo will also feature various offers such as No Stamp Duty & GST, discounts up to ₹18 lakh, and ₹5 lakh spot booking discounts. Other perks include Flexi Pay Plans, Zero Club Charges, and giveaways such as iPhones and two-wheelers.

The event is expected to attract over 100,000 attendees over three days and will operate from 10:30 AM to 8 PM each day. Free parking will be available at the venue, and entry is free with prior online registration at www.mchihomes.com.

Also Read: Housing Prices Rise Across Top Indian Cities, Reports CREDAI-Colliers-Liases Foras

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The initiative will focus on assessing the environmental impact of construction activities, specifically their effect on air quality, and promoting more sustainable construction practices. As part of the MoU, a detailed study will be conducted to evaluate air emissions and greenhouse gas (GHG) emissions generated by construction operations and the functioning of buildings. The findings will be shared with stakeholders to raise awareness and provide actionable insights. The roadmap will also set decarbonization targets, emphasize eco-friendly building practices, and offer training to industry stakeholders to effectively implement these strategies.

Domnic Romell, President of CREDAI-MCHI, emphasized the significance of the partnership, stating, “This collaboration demonstrates our commitment to sustainable development within the construction sector. Partnering with MAHAPREIT will help us set new standards for environmental responsibility and create a clear path toward reducing emissions and achieving Net Zero targets.”

Bipin Shrimali, Managing Director of MAHAPREIT, highlighted the organization’s commitment to sustainability, saying, “As a Government of Maharashtra undertaking, MAHAPREIT is dedicated to advancing sustainable infrastructure practices. Through this partnership with CREDAI-MCHI, we aim to develop practical solutions for decarbonization and contribute to a greener future for the construction industry.”

Under the terms of the MoU, CREDAI-MCHI will facilitate access to construction sites, collaborate on technological studies, and execute joint initiatives to achieve Net Zero goals. MAHAPREIT, with its technical expertise, will focus on identifying sources of pollution, conducting environmental assessments, and guiding the adoption of sustainable practices.

The MoU, which is non-financial and valid for 12 months, marks an important step in the creation of a sustainable, eco-conscious construction ecosystem. The initiative aims to not only improve the environmental impact of the industry but also to benefit the broader community by fostering more responsible and greener building practices.

Also Read: CREDAI Pledges to Construct 4000 Green Projects by 2030

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In a statement, Romell highlighted the significance of the election result, marking it as a crucial moment for Maharashtra, particularly for the Mumbai Metropolitan Region (MMR). He expressed hope that the newly formed government would usher in a period of stability, with a development-focused approach to governance that prioritizes infrastructure expansion, streamlined approvals, and industry-friendly policies.

“The new government has an opportunity to build on the momentum and continue addressing key issues such as ease of doing business, housing affordability, and sustainable urban development,” Romell said. “We are particularly hopeful that the leadership will sustain and enhance initiatives aimed at affordable housing to meet the growing demand for homes across various income groups.”

Affordable housing remains a critical concern, with Romell stressing that inclusive growth could be achieved through effective policies that make housing more accessible to all. By working in collaboration with key stakeholders, he believes that the real estate sector in MMR can experience accelerated growth, further contributing to Maharashtra’s overall economic progress.

Romell concluded by expressing the industry’s eagerness to collaborate closely with the new government. “We look forward to a partnership that can help realize the vision of sustainable urban development and address Maharashtra’s urgent housing needs,” he said.

As the state moves forward under the leadership of the Mahayuti alliance, the real estate sector is keenly watching how the government’s policies will shape the future of urban development and housing in Maharashtra.

Also Read: Here’s why BJP MLA refused MHADA flat

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A key feature of the event was the release of the Ease of Doing Redevelopment Report, a collaborative research initiative between CREDAI-MCHI and Hurun India. The report, presented by Domnic Romell, President of CREDAI-MCHI, and Anas Rahman Junaid, Founder of Hurun India, highlights leading companies in Mumbai’s redevelopment sector and offers crucial insights into the current landscape.

The exhibition commenced with a ceremonial lamp-lighting attended by notable dignitaries, including Gautam Chatterjee, former Chairperson of MahaRERA, and Valsa Nair, Additional Chief Secretary of the Housing Department.

Nair emphasized the importance of simplifying redevelopment processes, stating, “Ease of doing redevelopment is crucial for Mumbai. We aim to streamline procedures to benefit citizens. The proposed redevelopment portal could enhance transparency and speed.”

Sanjeev Jaiswal, CEO of MHADA, highlighted the “cluster approach” to redevelopment, noting recent approvals for cluster layouts under regulations 33(5) and 33(9) that could improve living conditions. He pointed to successful projects in Motilal Nagar and Gandhi Nagar as examples of effective community collaboration.

Romell described the EODR initiative as a significant advancement for the redevelopment landscape. With nearly 929 housing societies and 214 project management consultants present, the platform is designed to facilitate smoother redevelopment processes. He noted that the government’s decision to provide fungible areas free of charge has significantly eased the journey for housing societies.

Dhaval Ajmera, Secretary of CREDAI-MCHI, reiterated the exhibition’s role in simplifying redevelopment, providing housing societies direct access to developers and consultants.

The event also included a panel discussion on the “Ease of Redevelopment,” featuring insights from industry leaders such as Manoj Dubbal and Sudhanshu Agarwal.

Overall, the EODR exhibition serves as a comprehensive platform for housing societies to explore viable and sustainable redevelopment options, marking an important step in revitalizing Mumbai’s aging housing stock.

Also Read: CII IGBC and CREDAI Sign MoU to Promote Green Building Practices in India

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